Robert Reich

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"Smarter People Get That Respectable People Have To Run The System"





From the new office of Eric "bagman for Wall Street" Cantor's new role as MD and Vice Chairman of Moelis & Co... What the Washington elite really think about how the world works...

"Smarter people get that... there have to be respectable men and women who run, quite frankly, the system."

 
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53 Million Temps: All You Need To Know About The "Jobs Recovery"





The chart below shows the civilian employment to population ratio: a convenient indicator of the real state of the US labor market which does away with the labor force entirely, and the associated rhetoric of why it may or may not be plunging, and merely focuses on two simple things: total population and the total civilian population of the US. One thing is clear: the ratio crashed when the depression started and has flatlined since. Which, incidentally, may be all you, and the Fed, needs to know about the recovery.

 
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Debunking Robert Reich’s “Inequality For All”





Below is my one-hour video debunking all the critical points Reich raises in “Inequality for All.” 

 
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The Gold Conspiracy





As increasingly more conspiracy 'theories' become conspiracy 'facts', The History Channel discusses "The Gold Conspiracy" in this brief documentary. Gold is one of the most precious metals in the world. A glittering commodity so rare that people will go to great lengths to obtain it. But who sets the price? And what are the secret methods to control its value? History uncovers the clandestine world surrounding the highly prized precious metal. How much gold does the United States really have – and where is it locked away? Is the American government overstating the amount of gold in its reserves to create the mystique of financial superiority?

 
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The Big-Picture Economy, Part 1: Labor, Imports And The Dollar





Many well-meaning commentators look back on the era of strong private-sector unions and robust U.S. trade surpluses with longing. The trade surpluses vanished for two reasons: global competition and to protect the dollar as the world's reserve currency. It is impossible for the U.S. to maintain the reserve currency and run trade surpluses. It's Hobson's Choice: if you run trade surpluses, you cannot supply the global economy with the currency flows it needs for trade, reserves, payment of debt denominated in the reserve currency and credit expansion. If you don't possess the reserve currency, you can't print money and have it accepted as payment. In other words, the U.S. must "export" U.S. dollars by running a trade deficit to supply the world with dollars to hold as reserves and to use to pay debt denominated in dollars. Other nations need U.S. dollars in reserve to back their own credit creation.

 
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2012 Year In Review - Free Markets, Rule of Law, And Other Urban Legends





Presenting Dave Collum's now ubiquitous and all-encompassing annual review of markets and much, much more. From Baptists, Bankers, and Bootleggers to Capitalism, Corporate Debt, Government Corruption, and the Constitution, Dave provides a one-stop-shop summary of everything relevant this year (and how it will affect next year and beyond).

 
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Guest Post: Economic Fallacies And The Fight For Liberty





It’s easy to be pessimistic over the future prospects of liberty when major industrialized nations around the world are becoming increasingly rife with market intervention, police aggression, and fallacious economic reasoning.  The laissez faire ideal of a society where people should be allowed to flourish without the coercive impositions of the state is all but missing from mainstream debate.  In editorial pages and televised roundtable discussions, a government policy of “hands off” is now an unspeakable option.  It is presumed that lawmakers must step up to “do something” for the good of the people.  Thankfully, this deliberate false choice will slowly but surely bring the death of itself.   Illogical theories can only go on for so long before the push-back becomes too much to handle.  For those who desire liberty, it’s a joy that the statist economic policies of the Keynesians become even more irrational as the Great Recession drags on. The two following examples will illustrate this point.

 
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