Category Archives: Federal Reserve Bank

Soros Muscles Merkel

Debt, Economy, EU, Europe, Federal Reserve Bank

Germany’s Chancellor Angela Merkel (a former East German physicist) has refused to heed the hedonist B. Hussein Obama (an agitator from Chicago) who is urging her to print and inflate her country’s currency to Weimar-Republic levels.

“Financier- philanthropist” George Soros—also an all-round radical and BHO surrogate—has stepped in to muscle Merkel implying, writes Amity Shlaes, that,

“Germany should look to the U.S., where President Barack Obama has spent vigorously and Federal Reserve Chairman Ben Bernanke has created money for the greater good. Soros, the tutor again, underscored that Germany clearly “does not know what it is doing.”

There are reasons for the meddling:

Beyond Merkel’s personal memory there is the German national memory of the 1920s hyperinflation. That resulted from the decision of a desperate Weimar Republic to inflate its way out of war debts. That hyperinflation so punished middle-class savings and so weakened the 1920s economy that the average German became more susceptible to maniacs like Adolf Hitler and the communists.
Pressure on Germany from Soros, and for that matter, from the Obama administration, makes it harder for Merkel or other European leaders to heed their own sound instincts. Soros’s pressure also obscures a desirable policy path for Germany, one in which it practices fiscal discipline and growth creation so well that other euro nations emulate it.

Read Shlaes’ analysis.

Reminder: They're Republikeynesians

Debt, Federal Reserve Bank, Inflation, Political Economy, Republicans

Carl Rove on “Hannity” paraphrased: The Democrats’ stimulus was all stupid spending, there was nothing stimulating about it.

The premise of this stupid refrain, repeated again and again by GOPiers, is that there is a smart, economically stimulating way for the state to spend money to stimulate the economy.

Each and every Republikeynesian heard on cable will refute not the idea that government is able to create jobs out of funds it forcibly removes from the private economy or by printing paper in the basement of the Fed. The beef the likes of the incredibly dim Dana Parino, Newt, Dick, Carl et. al., will invariably voice is: The Dems didn’t apply the stolen funds the way one ought to have; the way we would have.

“How much to hand-out; who to hand it to; which hand-out makes the best use of taxpayer money … that’s the depth of the ‘philosophical’ to-be-or-not-to-be among Republikeynsians.”—ILANA (December 5, 2008)

Just thought thought I ought to remind you that they are all rotten Republikeynesians.

Reminder: They’re Republikeynesians

Debt, Economy, Federal Reserve Bank, Inflation, Political Economy, Republicans

Carl Rove on “Hannity” paraphrased: The Democrats’ stimulus was all stupid spending, there was nothing stimulating about it.

The premise of this stupid refrain, repeated again and again by GOPiers, is that there is a smart, economically stimulating way for the state to spend money to stimulate the economy.

Each and every Republikeynesian heard on cable will refute not the idea that government is able to create jobs out of funds it forcibly removes from the private economy or by printing paper in the basement of the Fed. The beef the likes of the incredibly dim Dana Parino, Newt, Dick, Carl et. al., will invariably voice is: The Dems didn’t apply the stolen funds the way one ought to have; the way we would have.

“How much to hand-out; who to hand it to; which hand-out makes the best use of taxpayer money … that’s the depth of the ‘philosophical’ to-be-or-not-to-be among Republikeynsians.”—ILANA (December 5, 2008)

Just thought thought I ought to remind you that they are all rotten Republikeynesians.

Johnny-Come-Krugman Diagnoses Depression

Debt, Economy, Federal Reserve Bank, Inflation, Media, Political Economy

Austrians like myself have long been calling this “recession” a depression. My WND colleague Vox Day wrote a book explaining why this economic downturn is a depression—the worst we’ve seen so far because of unprecedented levels of household and government debt. Now Paul Krugman, whose Keynesian voodoo I discussed in “Obama To G-20: Print More Money, Don’t Make It,” has, finally, diagnosed a depression.

This dangerous moron, however, believes depressions are caused by lack of spending—dips in demand must be compensated for by massive state spending, or else. That’s Keynesianism in a nut shell. Of course, be it on the macro or micro level, debt = decline + decay

HERE crazy Krug condemns the “resurgence of hard-money and balanced-budget orthodoxy”:

“…this third depression will be primarily a failure of policy. Around the world — most recently at last weekend’s deeply discouraging G-20 meeting — governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending.”

[SNIP]

Fans of Vox Day: write to our friend and urge him to write-up answers to the interview I sent him weeks back pursuant to reading the copy of “The Return of The Great Depression” he mailed me. Change the questions if you don’t like them, VD, respond to the Krug news; do what you like with my text, just get to it.