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Bloom of Doom VIII: US Figures Stronger than Feared

If you think the title is a contradiction, well, not more so than the idea that debt or subsidies could increase wealth. Where truth can’t win by argument it needs to do so by stealth (that almost rhymes). The President of the United States has published a report on the state of the economy which proves how uneconomical the state has become. From that report you can glean two things, the bad and the ugly: the US economy has greatly deteriorated further and it seems beyond the point of no return.
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Economic Fallacy VI: The Divisive Multiplier

2010-03-28 5 comments

There is a widespread believe that if governments inject a certain amount of money into “an” or “their” economy, it will miraculously multiply and bear fruit beyond what was invested. This is one of the mainstays of Keynesian economics in that it justifies state subsidies, public works, in short just any intervention by a state in the realm of private enterprise on the expenditure side. Read more…

Bloom of Doom IV: Safe Assets and Sore Surprises

2010-02-02 2 comments

Many still think sovereign debt is safe (although I’d like to know how many “elder statesmen” still invest in these “assets” themselves today). This is astonishing at the best of times: would you give credit to a boy who still lived at home at the age of 200+ with no income of his own? Oh, of course, I see, you hope his Mum and Dad Taxpayer will foot the bill. So if he goes to the “Royal Casino” and buys chips, looses big time, then even scraps his old, but perfectly serviceable car to get a new one, you still give him more credit and more, and more?

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Bloom of Doom III: Cities Going Bankrupt

2010-02-01 1 comment

Pennsylvania Capital Ponders Bankruptcy” we read in Mish Shedlock‘s commendable blog “MISH’S Global Economic Trend Analysis“. Now, if that doesn’t shed a whole new light on the word “capital“! Read more…

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