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Here’s another take on the inflation/deflation debate from Council on Foreign Relations senior fellow and Financial Times columnist Sebastian Mallaby: Forget Jesus and ask the hedge funds The US stimulus debate features two warring camps. The Obama administration insists that a failure to stimulate will open the door to a double-dip recession. Its foes retort […]


The Long Wave Versus the Printing Press

by John Rubino on May 2, 2010 · 68 comments

The fascinating thing about “long wave” analysis (broadly defined to include Kondratieff waves,  Elliott waves, and William Strauss and Neil Howe’s Fourth Turning) is that while each theory uses its own indicators and terminology to show how societies move through recurring cultural/psychological/financial stages, they’ve all reached the same conclusion: we’re toast. 2000 marked the theoretical […]


Prudent Bear’s Doug Noland was a must-read in the years leading up to the bursting of the housing bubble. Almost alone out there, he got not just the fact that we were heading off a cliff, but the exact mechanism of our demise: “Wall Street alchemy” was creating unlimited amounts of artificial securities that the […]


If Only

by John Rubino on January 20, 2010 · 22 comments

A Wall Street Journal columnist named Thomas Frank just made a great suggestion: One Cross of Gold, Coming Up How the government could get even with right-wing cranks. These are polarized times, but one thing everyone agrees on is that it sure is great when government makes a profit. Supporters of President Obama like to […]


Irony: Andrew Jackson On a Federal Reserve Note

by John Rubino on January 9, 2010 · 32 comments

Karl Golovin, a retired customs agent and security director for Ron Paul’s presidential campaign, just forwarded a transcript of Andrew Jackson’s farewell address. It’s pretty amazing.  Here’s Karl’s intro, followed by an excerpt: “During his presidency, Andrew Jackson viewed as his crowning achievement that he “Killed the Bank,” the 2nd Bank of the U.S. Our […]


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