This Is Why More Debt Won’t Work

The chart below is "Total Credit Market Debt Owed," direct from the Federal Reserve's graphical web interface "Fred Graph." Anyone can see that the graph had gone parabolic right before the onset of the Great Recession. Anyone can see that this rate of ever-faster accumulation of debt couldn't continue. And, it didn't continue, it stopped. [...]

By |2011-07-16T10:53:51-04:00July 16th, 2011|Economy|0 Comments

The Financial Condition of the World: Excerpts from the Alternative and Mainstream Financial Press (Part I)

For quite a number of years, many decades in fact, members of the Austrian School of Economics have been trying to convince Western governments that the Keynesian fiscal path they'd embraced could only end in a disaster of insolvency that devolved into a currency collapse. In 1940 in his landmark text Human Action Ludwig von [...]

By |2010-06-03T00:02:26-04:00June 2nd, 2010|Federal Reserve|2 Comments

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