Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Written by Gary North on November 25, 2011
The main story of MF Global is that the crisis in Europe brought it down. Wrong story. The main story is that the firm dipped into customers’ paid-up accounts and moved the money. Where to? It’s not clear. How much money? It’s not yet clear. It may be over a billion dollars. This is illegal, […]
Continue reading →Written by Gary North on November 23, 2011
The Austrian theory of the business cycle is clear: when a central bank inflates, it will produce a boom. When it slows the rate of monetary inflation, the result is economic recession. I have written about this here. China’s central bank has been the most inflationary of any industrial nation. Now it has slowed, because […]
Continue reading →Written by Gary North on November 21, 2011
The bankruptcy if MF Global is creating ripples. The outfit was high leveraged, using commoidity futures. The managers used customers’ money — cash basis, no debt — to cover losses in its own speculations. The customers cannot get their money back. They must wait. They may suffer 50% losses. Always before, the clearing house assured […]
Continue reading →Written by Gary North on November 16, 2011
The idea that the USA can ever become oil independent is a myth. The US has lots of coal and natural gas. It does not have much oil. The recession hit US oil consumption like a sledgehammer after 2007. Meanwhile, there has been a slight uptick of oil production in the US. But there is […]
Continue reading →Written by Gary North on November 15, 2011
These are the Big Four. I first wrote about this in 1980. Most of the time, we muddle through. We bump along. But a wise person has reserves. I mean reserves in the broadest sense. Faith in God is more reliable than faith in gold. As for groceries, they are cheap, especially for wise shoppers […]
Continue reading →Written by Gary North on November 14, 2011
Is peak oil real? Of course. It is running out: a billion barrels every two weeks. It is not being made. The price will go higher. But this does not mean the end of the world. At some price — much higher — there will be alternatives. One of them is natural gas. Its use […]
Continue reading →Written by Gary North on January 2, 2011
Did you know that the USA exports almost 3 million barrels of refined fuels — gasoline and diesel — every day? Most Americans are unaware of this. U.S. refineries exported a record amount of refined fuels in 2011 to markets in South America, Central America and Europe. It was one reason why Americans spent a […]
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