Category Archives: Debt

Week’s Tweets (4/22): TRUMP, White Lives Lost, Black Lives Matter, Roger Stone, Colorado, Brussels, Cruz Crap

Crime, Debt, Donald Trump, Europe, Objectivism, Race, Terrorism

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On A New Trick From The Feds’ Funny-Money Bag of Tricks

Debt, Federal Reserve Bank, Inflation, Private Property

Its old tricks are bad enough, but when an wrecking-ball like the Federal Reserve Bank tries something “new,” there’s even more reason to be afraid:

“T]here is something new [and ominous] in the present [quantitative easing] cycle,” warns Murphy, Robert P. Murphy, in the latest Mises Institute “Austrian.”

“The Fed is trying to raise rates while simultaneously maintaining its bloated balance sheet. It is attempting to pull off a magic trick whereby it can keep all of the ‘benefits’ of its earlier rounds of monetary expansion (i.e., “quantitative easing” or “QE”) while removing the artificial stimulus of ultra-low interest rates. …”

“Raising interest rates without selling assets,” gives us “the worst of both worlds.

We still get the economic effects of “tighter monetary policy,” because the price of credit is rising as it would in a normal Fed tightening. Yet we don’t get the benefit of a smaller Fed
footprint and a return of assets to the private sector. Instead, the US taxpayer is ultimately paying subsidies to lending institutions to induce them to charge more for loans, while the big banks and Treasury still benefit from the effective bailout they’ve been getting for years. …

Important reading: “The Fed Can’t Save Us” by Robert P. Murphy.

TRUMP’S ‘Bad Week’ Tweets: Silent Majority Rising, Says No To NATO, RNC, Neocons, Kasich, Cruz & Debt

Debt, Donald Trump, Economy, Foreign Policy, Republicans

RepubliKeynesian Ben Stein Froths At The Mouth About Trump

Debt, Donald Trump, Economy, Federal Reserve Bank, libertarianism

“Frightening, idiotic, nonsensical, insane, breathtakingly horrible, flabbergasting, makes me want to cry”: Does this spleen, vented by Ben Stein, resemble an “argument”? It was the sum total of Stein’s “case” against Donald Trump’s recent pronouncements about a foreseeable recession.

As an “expert” who despises Mr. Trump, Stein—an actor, comedian, lawyer and self-styled economist—holds sway with the liberal, malfunctioning media. Our establishment “RepubliKeynesian” appeared on the anti-Trump channel, CNN, to huff and puff about Mr. Trump’s alleged far-fetched doom-and-gloom about a troubled economy. If I recall, this expert was clueless about the previous bubble, not that errors prevent the pundit class from returning for encores.

“We’re not in a bubble, unemployment is not high, Trump needs to consult a real economist [take me, me, screams Stein silently] were some of Stein’s assertions to the smirking, vacuous looker, Pamela Brown. Naturally, Brown provided no counter perspective.

Suffice it to say that Trump’s warnings about the effects of the enormous national debt, the still bigger burden of unfunded liabilities owed, as well as his assessment of the real unemployment numbers would certainly comport with more distortions in the economy and more bubbles.

Oh, and Trump supporters are all idiots for not sympathizing with Stein’s outrage.

Anyhow, not one argument was advanced by Stein for his case against Mr. Trump, only ad hominem. Had the smirker in the anchor’s chair called in an economist, say, of the Austrian persuasion—or even Paul Craig Roberts, United States assistant secretary of the treasury for economic policy under President Reagan, in 1981—she would have heard a perspective more in agreement with Trump than with RepubliKeynesian Ben Stein.