The archive is catalogued by 'Politics', 'Economics', 'Mockery', 'In other news' and 'On other things' 


"Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world" - Henry Kissinger

and yet...

"Sooner or later everyone sits down to a banquet of consequences" – Robert Louis Stevenson

Martin Wolf thinks 'economic forces' are setting interest rates

In response to an FT article by Martin Wolf on 23rd February 2016, entitled 'Helicopter drops might not be far away'

“The main point is this. The economic forces that have brought the world economy to zero real interest rates and, increasingly, negative central bank rates are, if anything, now strengthening. This is what the world economy is showing. This is what monetary policy is indicating. Increasingly, this is what asset prices are demonstrating”

No, the main point is that the economic forces that have bought the world economy to zero interest rates are a group of academics sitting around a table in the Eccles Building, who along with their colleagues in Frankfurt and Tokyo play ring-a-ring-a-policy-rosie, announcing at each completed circle that they are really getting somewhere this time.

‘When one has exhausted the just about possible, what remains, however improbable, must be the answer’

I like the Doyle reference. Can I reply in kind? No sh*t Sherlock! But wrong.

Speaking of exhaustion, the argument used by medieval 'doctors' when their bloodletting fetish had left the patient at death’s door too exhausted to knock was...more leeches...

If you could print your way, spend your way, pray your way, bluff your way, or cajole your way to recovery...these fools would have done it by now. You can't. You can't BS your way to wealth either.

The problem is a twenty-year expansion of unsustainable credit that has temporarily sucked the life out of the productive economy, replacing wealth-generating activities with gambling.

The answer is a global reset of the monetary system and a fresh start. They won’t do it, and you won’t advocate it. The market will do it for you. We are heading for a complete collapse in confidence in government, followed by complete carnage in the bond market. You won’t see it until it’s too late.

War on Cash Vol 10 - Larry Summers...again

The FT wants to stop the 'Trump Juggernaut'