• derailedcapitalism
    10/12/2015 - 22:56
    Stretched debt-to-income, increased contract work (to the detriment of full-time work), and record housing prices are forcing Canadians to monetizing assets through ride-sharing, AirBnB and through...

Maynard Keynes

Tyler Durden's picture

"The Bucks Stop Here": Why Keynesian Economics Will Get Blamed For The Crash

For as long as the present economic system lumbers along, Keynesians will control the levers of power and influence. But when at last the system goes down in a heap, and central banks cannot restore the system, there will be a quest for answers. When you live by the Federal Reserve, you die by the Federal Reserve.

Tyler Durden's picture

Paul Craig Roberts: Greece's Lesson For Russia

Greece’s lesson for Russia, and for China and Iran, is to avoid all financial relationships with the West. The West simply cannot be trusted. The “globalism” that is hyped in the West is inconsistent with Washington’s unilateralism. No country with assets inside the Western system can afford to have policy differences with Washington. It is testimony to the insouciance of our time that the stark inconsistency of globalism with American unilateralism has passed unnoticed.

Tyler Durden's picture

Debt Is The Barbarous Relic! Not Gold

Owning gold is saving, which by definition is civilized, i.e. NOT barbarous. Debt, on the other hand, is the exact opposite. It is a lack of savings that shows a complete disregard for the future. It is the modern equivalent of gorging on some wild beast with no thought to tomorrow’s meal… or in this case, no thought of tomorrow’s generation. Debt is the barbarous relic. Not gold. And governments are up to their eyeballs in it, continuing to engage in this primitive, uncivilized behavior with wanton abandon.

Gold Standard Institute's picture

The Great FreedomFest Debate Was Like Watching Tom and Jerry

With apologies to his fans, Jerry is an evil little mouse who constantly pesters Tom the Cat. Tom tries and tries, but cannot seem to overpower someone who is a fraction of his size and strength.

Tyler Durden's picture

The Fourth Turning – An Interview With Neil Howe

"...If the S&P500 were to come down by 50% look at the bright side. The Millennial generation can finally buy into America’s future at a good price. Look at what they are facing right now: very little return on their savings and very lofty prices that they have to pay to invest in their future.  So we often forget that these wrenching dislocating financial events, particularly for older generations, can create opportunities for the young, and often create space for something more durable for the times to be built. So I’ll just summarize it with Schumpeter’s phrase: creative destruction. That’s how I prefer to see what happens in a Fourth Turning."

Tyler Durden's picture

Keynes, The Great Depression And The Coming Great Default

Ideas Have Consequences... In Nazi Germany and Fascist Italy, in Great Britain, in Japan, and in the United States, there was a shift of opinion away from the free market in favor of government economic planning. The supreme mark of this transformation was the acceptance of John Maynard Keynes' unreadable book, The General Theory of Employment, Interest, and Money, which was published in 1936. A new generation of younger economists adopted this book and its outlook, which prevails today. The fascist economic idea of an alliance between government and business became almost universally accepted.

Tyler Durden's picture

Jim Grant Explains "Our" 3 Biggest Financial Mistakes

Speaking at Russell Napier’s Library of Mistakes in Edinburgh earlier this month, Jim Grant of Grant’s Interest Rate Observer was asked what financial mistakes we’re making today that future generations will regard as the most ridiculous. If you’re familiar with Grant’s writing the short answer won’t surprise you...

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George Soros Warns Washington To "Mend Relations With China" Or Face World War 3

"Both the US and China have a vital interest in reaching an understanding because the alternative is so unpalatable," Soros wrote in an article for the New York Review of Books, with the danger imminent if Chinese economic reforms fail forcing President Xi Jinping to "foster some external conflicts to keep the country united and maintain himself in power." These "conflicts" would present themselves in the form of a Sino-Russo alliance which could draw the entire world into war.

Gold Standard Institute's picture

Falling Yield, Rising Asset

There's little interest, forcing retirees to spend down their principal. It's no accident, as Keynes called for the “euthanasia of the rentier.” Fed Chair Yellen is a New Keynesian.

Tyler Durden's picture

"The People" Vs. Piketty

We have rich people, poor people, right-wing economists, left-wing economists and even revolutionaries, all contesting Piketty’s argument. It seems we the People do have a point against him. But will it prevail? We’re not optimistic on this one. It is far more likely that Piketty's ideas will gain traction rather than fade away. Why? Because it gives politicians and their Keynesian consorts yet another framework and justification as to why the state should be the key allocator of resources in society.

rcwhalen's picture

Global Deflation & Credit Spreads

The results of the latest FOMC meeting confirm that most of the media and investor communities don't get the joke on Fed policy since the crisis.  No change in '15

Tyler Durden's picture

China's "Animal Spirits" May Call For "Draconian" Measures To Curb Rally, UBS Says

“It’s absolutely possible we’ll see some draconian measures from the regulators,” a UBS strategist tells Bloomberg, referring to steps Beijing may have to take to curb China's equity mania. Meanwhile, in a new note, the bank says that "the challenge with almost all retail-driven liquidity rallies (like this one) is that they generally don't abide by the more fundamental rules we follow." It's all liquidity and "animal spirits" in China folks — look out below.

Tyler Durden's picture

A Practical Utopian’s Guide To The Coming Collapse: David Graeber On "The Phenomenon Of Bull$hit Jobs

Since the 1970s there has been a shift from technologies based on realising alternative futures to investment technologies that favoured labour discipline and social control. Hence the internet.

“The control is so ubiquitous that we don’t see it.” We don’t see, either, how the threat of violence underpins society, David Graeber claims.

Tyler Durden's picture

The Euthanasia Of The Saver

American banks have largely gained from low interest rates, British banks have suffered losses as a result and in the Eurozone they have been hugely detrimental to banks’ profitability. The ones who have undoubtedly lost out were those quintessential Keynesian villains: the savers. The medicine prescribed by the central banks to correct their “bad” ways has cost them billions. And given that yields have continued to go down since McKinsey's report was published, their misery has only increased. More high fives from Keynes! And yet, even within those groups the impact has been uneven. Who in the household segment is suffering the most because of ultra-low interest rates? The retirees, of course.

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