• GoldCore
    09/04/2015 - 07:43
    Large pools of gold in indebted nations will be vulnerable. Pool accounts, digital gold bullion vaulting providers and depositories in the UK and the US might have their companies and assets...

Paul Krugman

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Why Economics Matters





Ignorance of economics allows some very big falsehoods to be accepted as fact by large numbers of people. And it’s only going to get worse as the presidential election of 2016 unfolds.

 
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The Week That Laid The Experts Bare





The week that passed has left many of the so-called “smart crowd” flummoxed, disheveled, dismayed, and disrobed from their expensive facades of “expert insightful analysis.” It seems all that “expert” as well as “insight” wasn’t all it was made out to be. In less than a week: historic records weren’t only broken – they were smashed to smithereens. And the one’s that were the most historic? They weren’t set for positive things.

 
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Debt Is Good: For Funding The Greatest Participation Trophy Ever Created





As the capital markets from Shanghai to New York were melting down in ways hearkening back to the early days of the prior financial crisis - a period of time many would like to forget (or act) as if it never happened - the Nobel Laureate economist Paul Krugman decided it was time once again to weigh in with what will surely be viewed by the so-called “smart crowd” as a brilliant perspective on what ails the world: Not enough debt. He came out blazing with what seems the only bullet in his arsenal as a cure-all for what ever the ailment might be (e.g., debt.) as he argues this view in his latest: Debt Is Good.

 
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Paul Krugman "What Ails The World Right Now Is That Governments Aren’t Deep Enough In Debt"





"Believe it or not, many economists argue that the economy needs a sufficient amount of public debt out there to function well. And how much is sufficient? Maybe more than we currently have. That is, there’s a reasonable argument to be made that part of what ails the world economy right now is that governments aren’t deep enough in debt."

 
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Economic Crisis Goes Mainstream - What Happens Next?





Last year, when alternative economic analysts were warning that the commodities crush and oil crash just after the taper of QE3 were blaring signals for a downshift in all other financial indicators, the general response in the mainstream was that we were overreacting and paranoid and that the commodities jolt was temporary. Perhaps the fact needs repeating that it’s not paranoia if they are really out to get you. Only a short time later, it is truly amazing how the rhetoric from the mainstream economic yes-men is changing. So now that the mainstream is willing to report on clear economic dangers, what happens next?

 
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10 Things Every Economist Should Know About The Gold Standard





At the risk of sounding like a broken record we'd like to say a bit more about economists' tendency to get their monetary history wrong; in particular, the common myths about the gold standard. If there's one monetary history topic that tends to get handled especially sloppily by monetary economists, not to mention other sorts, this is it. Sure, the gold standard was hardly perfect, and gold bugs themselves sometimes make silly claims about their favorite former monetary standard. But these things don't excuse the errors many economists commit in their eagerness to find fault with that "barbarous relic." The point, in other words, isn't to make a pitch for gold.  It's to make a pitch for something - anything - that's better than our present, lousy money.

 
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Japan's Real Wages Just Plunged The Most In Six Years





Japan's all important real wages, even those including bonuses and special payments, once again failed to keep up with inflation, and in June crashed by a whopping 2.9% reflecting a 0.5% yoy increase in the CPI excluding imputed rent. As the chart below shows, there has now been 24 consecutive months without a single Y/Y monthly increase in real wages. What's worse is that when one adjusts the inflationary surge from the consumption tax hike last April, which has now been fully anniversaried and is no longer part of the base effect, this was the largest decline in Japan's real wages since December 2009, or the biggest monthly plunge in 6 years!

 
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Amoeba, Fish, Lizard, Ape, Human, Investor... Meet Evolutionary Economics





We’re always interested in alternative economic frameworks that can help address the sizable gaps left open by classical approaches. Behavioral economics can fill part of that void, of course, as it describes some basic shortfalls in the assumption that we’re all superhuman welfare maximizing individuals. One step beyond that is evolutionary economics, which borrows from biology rather than psychology to form models about economic behavior.

 
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4 Mainstream Media Articles Mocking Gold That Should Make You Think





Religious imagery... peak condescension... everyone proclaiming "gold is dead"... In a nutshell, sentiment has plunged to negative levels not seen in years, if not more than a decade. Here are four mainstream media articles that provide some evidence we may be approaching a sentiment low. Some of them we're sure you’ve seen, others perhaps not. What amazes us is how they’ve all come out within the last two weeks.

 

 
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Putin Trolls Obama, Says FIFA's Blatter Deserves A Nobel Prize





Earlier today, it was Putin's turn to troll not only the DOJ, but also Barack Obama who is currently in Ethiopia as part of his African tour when in an interview aired by Swiss broadcaster RTS on Monday Putin said that Sepp Blatter deserves a Nobel Prize for his stewardship of soccer’s governing body. “I think people like Mr Blatter or the heads of big international sporting federations, or the Olympic Games, deserve special recognition. If there is anyone who deserves the Nobel Prize, it’s those people.”

 
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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.

 
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Varoufakis: Greek Deal Is "Coup", Turns Greece Into "Vassal" State, And Deals "Decisive Blow" To European Project





Europeans, even those who give not a damn for Greece, ought to beware.The Euro Summit statement of yesterday morning has nothing to do with economics, nor with any concern for the type of reform agenda capable of lifting Greece out of its mire. It is purely and simply a manifestation of the politics of humiliation in action.

 
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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.

 
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