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Never Give a Keynesian an Even Break

Written by Gary North on February 6, 2016

david-stockman

David Stockman uses the most antagonistic rhetoric against Keynesians that I have ever read. He is merciless. He gives no quarter. That’s why I love to read his articles. Here is a good one. It is on the world’s central bankers, who have driven down interest rates to zero, and have thereby sacrificed the interests […]

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World Market Meltdown: How Big?

Written by Gary North on January 16, 2016

derivatives

Click the link to see graphics of the world’s markets, from the smallest (bitcoin) to the largest (derivatives). When you are finished, ask this: “How could the Federal Reserve System deal with a meltdown in either of the final two markets?”

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The Moral Issue of Honest Money

Written by Gary North on January 9, 2016

money

Because of the nature of the economics profession–“guild” might be a better word–it is necessary to put quotation marks around the words, “honest money.” Economists will go to almost any lengths to avoid the use of moral terms when they discuss economic issues. This has been true since the seventeenth century, when early mercantilistic pamphlet […]

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America’s Oligarchy and the Federal Reserve

Written by Gary North on November 7, 2015

federal-reserve

Mexico is an oligarchy. Look at photos of every President who was not a military dictator. He looks like a European by ancestry. That’s because he was. Mexico pretends to be a democracy. The photos say otherwise. No one who looks like a Mexican is ever elected President by Mexicans. Americans who are aware of […]

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David Stockman’s Burden

Written by Gary North on September 5, 2015

stockman

David Stockman has written the finest piece of financial journalism of our generation: The Great Deformation: The Corruption of American Capitalism. It shows how we got into the mess we are in. Blame the government. Then blame us. It is our government. We must not parrot Flip Wilson’s Geraldine: “The devil made me do it!” […]

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Helicopter Money and the MSM

Posted on June 6, 2015

helicopter-money

by David Stockman It is hard to believe that in these allegedly enlightened times this question even needs to be asked. Are there really educated adults who believe that by dropping helicopter money conjured from thin air, the central bank can actually make society wealthier? Well, yes there are. They spread this lunacy from the […]

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Peak Debt and the Looming Crash

Written by Gary North on May 2, 2015

FRED-Debt-to-Growth

The phrase, “more bang for the buck,” is usually associated with the Vietnam War. It is associated with Defense Secretary Robert McNamara’s focus on statistics: military expenditures vs. enemy deaths. In fact, the phrase came from Eisenhower’s Secretary of Defense, Charles Wilson. He used it in 1954 to justify the Defense Department’s reliance on nuclear […]

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Muni Bonds as AAA Bank Capital

Written by Gary North on April 25, 2015

bonds

The Federal Reserve System is planning to issue new rules that will allow banks to buy municipal bonds as credit reserves for banks. Follow the logic: banks will supply capital to cities, which will serve as credit for banks. This is modern banking 101. This new arrangement will help provide a floor for cities’ debt. […]

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