Archive

Posts Tagged ‘legislation’

Government Wasn’t the Problem

September 10th, 2014

arra-signHarlan Green: If the latest unemployment report tells us anything, it is that government isn’t the problem that has caused the weak U.S. recovery, but a private sector that is focused solely on maximizing profits for their investors and CEOs, rather than creating more jobs. Read more…

Economy, Financials, Government

Americans Are Buying Guns Every 1.5 Seconds

February 6th, 2013

gun salesMac Slavo: For the last two months Americans have been lining up in unprecedented numbers at gun shops and gun shows across the country. In fact, demand has been so massive that the FBI’s background check system in a number of states crashed as a result of being overwhelmed. Read more…

Economy, Government

Legislation: Senate To Ban Hundreds of Semiautomatic Rifles, Handguns, Shotguns, Magazines

December 27th, 2012

For anyone who may have thought Senator Feinstein and her colleagues in Congress were bluffing about coming firearms legislation that would restrict the sale, transfer and possession of certain firearms, think again. Read more…

Economy, Government, World News

Gun Rights Activist Warns Barack Obama May Skirt Congress and Outlaw Semiautomatic Firearms

November 27th, 2012

Kurt Nimmo: Second Amendment activist John Snyder writes on his blog today that confidential sources have told him that the Obama administration may attempt to skirt Congress Read more…

Economy, Government

Staggering Black Friday Gun Sales Causes Outages At The FBI Background Check Center

November 27th, 2012

Paul Joseph Watson: Black Friday gun sales hit an all time record high last week with demand for new firearms so overwhelming that it caused outages at the FBI background check center on two separate occasions. Read more…

Economy, Government, Markets

Chuck Woolery On Gun Control: 5 Reasons Why We Cannot Ban Firearms In America

November 27th, 2012

Mac Slavo: Legendary game show host Chuck Woolery has a message for Americans, and he delivers it with an AR-15 in hand. Read more…

Economy, Government

Barack Obama (Wants) To BAN Guns

November 22nd, 2012

The Daily Sheeple: Obama’s currently proposed ban list: Read more…

Government

Senator Dianne Feinstein Moves To Ban ALL Assault Rifles, High Capacity Magazines, and Pistol Grips

November 7th, 2012

Mac Slavo: The agenda no longer needs to be hidden from public view. With President Obama winning another term and democrats taking control of the Senate, the move to fundamentally Read more…

Government, Markets

Moody’s Gazes Upon US Debt Debacle While Congress Turns a Blind Eye

June 3rd, 2011

Moody’s Investors Service has turned up the heat on US politicians, threatening a US debt downgrade as soon as July unless the Congress shows some backbone in planning on how to curb deficits. The problem is, of course, the over $14 trillion debt ceiling… a levee now on the verge of bursting.

The Democrats are pushing hard for tax increases, which Republicans detest, while the Republican side of the impasse is focused on massive spending reductions, a no-no for Democrat dealmakers.

While certain preachers have revised and pushed out their end of world predictions to October 21st, it looks like the US’ “Financial Reckoning Day” may loom much nearer.

Moody’s Gazes Upon US Debt Debacle While Congress Turns a Blind Eye originally appeared in the Daily Reckoning. The Daily Reckoning provides over half a million subscribers with literary economic perspective, global market analysis, and contrarian investment ideas.

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Moody’s Gazes Upon US Debt Debacle While Congress Turns a Blind Eye




The Daily Reckoning is a contrarian e-letter, brought to you by New York Times best-selling authors Bill Bonner and Addison Wiggin since 1999. The DR looks at the economic world-at-large and offers its major players – investors, politicians, economists and the average consumer – some much-needed constructive criticism.

Uncategorized

From Greek Debt to Gold Money: Wishful Thinking in the World Economy

May 24th, 2011

Global investors rediscovered Greece yesterday, which means that they might soon rediscover gold and silver as well.

The state of Utah is ready!

Headlines about the Greek government’s desperate financial condition buffeted financial markets around the globe yesterday, as investors seemed to acknowledge, en masse, “Yes, this situation in Greece is grim.” The Parthenon may be in ruins, but it is a pristine high-rise compared to the Greek government’s balance sheet.

Your editors here at The Daily Reckoning have been mentioning from time to time that the Greeks were sliding toward an inevitable default…or something that closely resembles a default. As early as 15 months ago and as recently as last Friday, we warned that the Greeks would fail to pay their bills, despite receiving a €110 billion bailout from the European Union and the IMF.

But global investors did not seem too troubled by this grim prospect…until yesterday. Greek stocks slumped to another new 14-year low, while Greek bond yields jumped to another new all-time high. The Greek government’s 10-year bond yields a hefty 17%…in theory.

A little to the north of these modern-day Greek ruins, all the major European markets posted losses. Asian markets also fell, while the Dow Jones Industrial Average dropped 131 points to its lowest level in a month.

But the Greeks don’t deserve all the blame for yesterday’s carnage…

According to the newswires, the Romans were responsible for yesterday’s selloff, not the Greeks. Standard & Poor’s downgraded Italy’s finances from “stable” to “negative.”

“Italy’s current growth prospects are weak,” S&P declared, “and the political commitment for productivity-enhancing reforms appears to be faltering. Potential political gridlock could contribute to fiscal slippage. As a result, we believe Italy’s prospects for reducing its general government debt have diminished.”

The mini-panic that ensued knocked the Italian stock market down about 3%, while shaving about 1% off the value of the euro. Meanwhile, gold and silver regained investor interest, as both metals inched higher.

The precious metals probably deserved a bigger rally yesterday, given the gravity of the unfolding sovereign debt problem/crisis. On the other hand, the recent volatility in the silver market may have undermined its “safe haven” allure for the moment.

But if, as we suspect, the fiscal distress in Greece triggers some sort of crisis in Europe and beyond, the precious metals will regain their luster…and then some.

The state of Utah is ready. While the “Beehive State” may not be famous as a trendsetter, it has made a big splash from time to time. Utah’s Mormon settlers, for example, practiced polygamy for decades. But this “plural wives” craze never really caught on nationally.

Now comes Utah with another counter-cultural idea: “plural currencies.” The Utah state legislature is the first in the country to legalize gold and silver coins as currency. (Let’s call it, “ploygmoney.”) The law also will exempt the sale of the coins from state capital gains taxes.

“Earlier this month,” the Associated Press reports, “Minnesota took a step closer to joining Utah in making gold and silver legal tender… North Carolina, Idaho and at least nine other states also have similar bills drafted.

“Making gold and silver coins legal tender sends a strong signal to Congress and the Federal Reserve that their monetary policy is failing,” said Ralph Danker, project director for economics at the Washington, DC-based American Principles in Action, which helped shape Utah’s law. “The dollar should be backed by gold and silver, so we have hard money.”

Ah, yes, but “should be” is not the same thing as “is.” What’s that expression: “If wishes were fishes, the sea would be full”?

We wish the dollar were backed by gold or silver. It isn’t.

Eric Fry
for The Daily Reckoning

From Greek Debt to Gold Money: Wishful Thinking in the World Economy originally appeared in the Daily Reckoning. The Daily Reckoning provides over half a million subscribers with literary economic perspective, global market analysis, and contrarian investment ideas.

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From Greek Debt to Gold Money: Wishful Thinking in the World Economy




The Daily Reckoning is a contrarian e-letter, brought to you by New York Times best-selling authors Bill Bonner and Addison Wiggin since 1999. The DR looks at the economic world-at-large and offers its major players – investors, politicians, economists and the average consumer – some much-needed constructive criticism.

Uncategorized

The Attack on the Washing Machine

May 23rd, 2011

You can chart the course of human progress in terms of how clean our clothing is. In early times people used animal skins, had no change of clothing, and had no soap. By Adam Smith’s day, soap had improved in quality, was produced industrially, and was becoming available to the common man.

In fact, the Industrial Revolution, which is usually discussed in terms of iron, steam, and factories, was actually all about bringing products like soap and underwear – previously only available to the rich – to the common peasants.

Only after WWII did electric automatic clothes washers displace hand-cranked machines. Then detergent replaced soap in the washing process, and competition resulted in much more effective products.

In 1956 the product Wisk was launched as the first liquid laundry detergent. And in 1968 its famous “Ring around the Collar” ads came along.

Other companies followed with products that were even better. Between the 1920s and the 1970s, washing clothes went from a grueling full-time job to a weekly activity that could be accomplished by young children.

Demographic researcher Hans Rosling has called the washing machine the greatest invention in the history of the Industrial Revolution. It liberated homemakers from boiling water and washing clothes. For women around the world, it makes the difference between poverty and prosperity.

Only two generations ago, nearly every mother in the world slaved at washing clothes. Today, no one in the developed world does this. Instead, they can read, do professional work, teach children, hold parties, and generally apply their time to building civilization. As Rosling says, “even the hard core of the green movement use the washing machine.”

But government is working on systematically reversing these advances – attacking the washing machine’s workings at the most fundamental level.

In 1996, Consumer Reports tested 18 models of washing machines. It rated 13 models as excellent and 5 models as very good. They found that with enough hot water and any decent laundry detergent, any machine would get your clothes clean.

In 2007, Consumer Reports tested 21 models and rated none of them as excellent and 7 models as poor; the rest of the models were rated mediocre. The old top-loading machines were mediocre or worse.

Consumer Reports found that in most cases your clothes were nearly as dirty as they were before washing. The newer front-loading machines worked better, but they were much more expensive and had mold problems, and you cannot add a dropped sock once the machine is started. None of the top-loading machines performed as well as a mediocre top-loading machine from 1996.

The government’s meddlesome hand is at fault. Between 1996 and 2007 the government’s energy-efficiency standards were dramatically increased. In order to meet those standards, manufacturers had to switch to the inferior front-loading washers, which are more “energy efficient,” and to design models that used less water. Less water in the machine means the machine uses less energy to rotate the clothes with the water and detergent. It also means less rinsing, which is a vital component to getting clothes clean.

The result is that clothes come out of the washer still dirty. The easy stuff like sweat is mostly removed, but all the tough stuff, like grease and body oils, largely remains. Most people are unaware of this problem, either because they have an older model, they don’t do their own laundry, or they are just oblivious to this type of thing.

Among those who face this problem, the answers are few. Some do multiple smaller loads with larger water levels, but of course this results in higher – not lower – energy and water usage. Others have tried to solve the problem by using more detergent, but this usually does not help – it can make the situation worse – and it reduces the durability of the machine – yet another inefficiency.

So there you have it. Politicians, environmentalists, and meddlesome bureaucrats have teamed up to dream up another attempt to serve the public interest. Left to its own, the invisible hand of entrepreneurial competition would have naturally made doing laundry easier, better, cheaper, and more efficient. Instead we have more expensive, more inefficient, and truly ineffective clothes-washing machines.

Then there have been changes to laundry detergent, which have in combination with the “energy efficient machines” led to a return of “Ring around the Collar.”

The invisible hand of the marketplace is the foundation of a free society and the source of prosperity. The invisible fist of government is the foundation of plunder and the source of social problems.

If we chart social progress by clean clothing, it is clear that we are headed backward in time. But the trend is easily reversed with a small change toward laissez-faire.

Regards,

Mark Thornton
for The Daily Reckoning

The Attack on the Washing Machine originally appeared in the Daily Reckoning. The Daily Reckoning provides over half a million subscribers with literary economic perspective, global market analysis, and contrarian investment ideas.

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The Attack on the Washing Machine




The Daily Reckoning is a contrarian e-letter, brought to you by New York Times best-selling authors Bill Bonner and Addison Wiggin since 1999. The DR looks at the economic world-at-large and offers its major players – investors, politicians, economists and the average consumer – some much-needed constructive criticism.

Uncategorized

Leadership Gone off the Chain

May 20th, 2011

Earlier this week, the “Gang of Six” hit a big road bump as Senator Tom Coburn (R-OK), “began pressing for sharper cuts to Social Security than had been previously agreed to” and “demanded deep and immediate cuts to Medicare that went beyond anything previously proposed.” Clear “cut” signs he was being uncooperative and had to go.

More recently, he announced that he’s cooking up “his own plan to reduce the deficit by $9 trillion over ten years.” Best of luck to him, though, as it looks unlikely that the US Congress has “teeth” do any real cutting. Much like the chainsaw below, the Congressional tools the nation has on hand don’t appear up to the job it’s been designed to perform.

See the cartoon below, which came to our attention via a Chicago Tribune opinion cartoon on the US’ budget chainsaw.

Leadership Gone off the Chain originally appeared in the Daily Reckoning. The Daily Reckoning provides over half a million subscribers with literary economic perspective, global market analysis, and contrarian investment ideas.

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Leadership Gone off the Chain




The Daily Reckoning is a contrarian e-letter, brought to you by New York Times best-selling authors Bill Bonner and Addison Wiggin since 1999. The DR looks at the economic world-at-large and offers its major players – investors, politicians, economists and the average consumer – some much-needed constructive criticism.

Uncategorized

Jon Stewart on the 2012 “Post-Apocalyptic” Republican Presidential Nominees

May 11th, 2011

In a recent episode of The Daily Show, Jon Stewart skewered Fox News’ presentation of the first Republican presidential nominee debates. Widely panned as a “debacle” and “disastrous clash,” especially given its timing in relation to the death of Osama bin Laden, the debate provided plenty of fodder for The Daily Show’s special blend of humor.

Among other golden nuggets, Stewart highlights:

  • That the Fox News debate starts off with an opening sequence that could easily serve as a horror movie trailer. As Stewart describes it, it sounds like a debate introducing “the candidates for the post-Apocalyptic hellscape we once knew as America [...] to forestall the day when our desperate citizens begin eating human flesh.”
  • That the debate, despite Dr. Ron Paul’s presence, was mainly criticized for not attracting the likes of Mitt Romney, Donald Trump, and Mike Huckabee to show. The remaining nominees that bothered to attend included former Governor of Minnesota, Tim Pawlenty; former Pennsylvania Senator, Rick Santorum; former Governor of New Mexico, Gary Johnson; and lastly, Herman Cain, former Chairman and CEO of Godfather’s Pizza… delicious debate, indeed.
  • That Dr. Paul, if he keeps up presenting clear and decisive views — as opposed to the waffling and flip-flopping more pervasive throughout the debate — will “never become a shell of his former self…” unlike other not-so-subtly hinted at politicians.

You can view the entire segment below, which originally aired earlier this week on Comedy Central.

Jon Stewart on the 2012 “Post-Apocalyptic” Republican Presidential Nominees originally appeared in the Daily Reckoning. The Daily Reckoning provides over half a million subscribers with literary economic perspective, global market analysis, and contrarian investment ideas. Bill Bonner, the founder of the the Daily Reckoning released his latest book Dice Have No Memory: Big Bets & Bad Economics From Paris to the Pampas in April 2011.

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Jon Stewart on the 2012 “Post-Apocalyptic” Republican Presidential Nominees




The Daily Reckoning is a contrarian e-letter, brought to you by New York Times best-selling authors Bill Bonner and Addison Wiggin since 1999. The DR looks at the economic world-at-large and offers its major players – investors, politicians, economists and the average consumer – some much-needed constructive criticism.

Uncategorized

Don’t Fear a Pullback in Prices

April 26th, 2011
The S&P credit agency sent shockwaves through the global financial system on Monday when it issued a warning on U.S. debt and changed its outlook on the U.S. sovereign credit rating from “stable” to “negative.” This sent markets lower and the prices of commodities such as oil rocketing back above $110 per barrel and both gold and silver to new highs.
It should be clear the S&P announcement was just a warning, not a lowering of the U.S. debt rating, which was affirmed at AAA (the highest level possible). The fears quickly subsided and U.S. markets hit fresh three-year highs. Essentially there’s only a one-third chance of a downgrade and anyone who’s ever listened to the weather man knows that a 33 percent chance of rain means you probably don’t need your umbrella.

Time to load up on gold and silver?

However, the warning validates what we already know: The U.S. needs a plan to address its debt and budget issues…and fast. Due to the fact that future fiscal austerity measures will likely act as a drag on the economy, we also think this opens the door for a third round of quantitative easing (QE3) heading into next year so we’ll have to keep an eye on Bernanke and the Federal Reserve’s next move.

These factors will likely produce downward pressure on the U.S. dollar and upward pressure on commodity prices. This is why we emphatically believe the bull cycle for gold still has a long way to run.

Last week, one of my fellow presenters at the Denver Gold Group’s European Gold Forum was Dr. Martin Murenbeeld from Dundee Wealth who put the notion of a “gold bubble” in context with the following chart.

If you compare the current bull cycle for gold against gold’s run from the 1970s and 1980s, you can see that today’s run has been slow and steady. It’s also missing the sharp spikes typical of a bubble.

Also, a key difference in this gradual move higher is the growing affluence of the developing world. There people have traditionally turned to gold as a store of wealth and we are seeing that in unprecedented numbers in countries such as China and India.

One of the things we recently pointed out was the effect money supply growth can have on gold. Dr. Murenbeeld also presented this fascinating chart showing how much gold would need to increase in order to cover the amount of money that has been printed since gold was revalued at $35 in 1934.

Using that as the cover ratio, gold would need to climb all the way to $3,675 an ounce to cover all paper currency and coins. If you use a broader—and more common—measure of money (M2), gold would need to rise all the way to $7,931 in order to cover the outstanding amount of U.S. money supply.

With gold pushing through the $1,500 level and silver above $46, many investors are questioning whether we’ll see a pullback. Going back over the past ten years of data, you can see that gold’s current move over the past 60 trading days is within its normal band of volatility, up about 7 percent over that time period.

Silver, however, has traveled into extreme territory. Over the past 60 trading days, silver prices have jumped over 58 percent and now register nearly a 4 standard deviation move on our rolling oscillators (see chart). Based on mean reversion principles, odds favor a correction in silver prices over the next few months.

We should be clear: If a correction occurs, this would not mean the rally is over. It would just be a healthy bull market correction and reflect the normal volatility inherent with these types of investments. Investors must anticipate this volatility before participating in these markets.

This volatility also brings along opportunity. We believe we’re only halfway through a 20-year bull cycle for commodities and investors can use these pullbacks as an opportunity to “back up the truck” and load up for the long-haul.

Regards,

Frank Holmes,
for The Daily Reckoning

P.S. Director of Research John Derrick contributed to this commentary. For more updates on global investing from me and the U.S. Global Investors team, visit my investment blog, Frank Talk.

Don’t Fear a Pullback in Prices originally appeared in the Daily Reckoning. The Daily Reckoning recently featured articles on stagflation, best libertarian books, and QE2

.

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Don’t Fear a Pullback in Prices




The Daily Reckoning is a contrarian e-letter, brought to you by New York Times best-selling authors Bill Bonner and Addison Wiggin since 1999. The DR looks at the economic world-at-large and offers its major players – investors, politicians, economists and the average consumer – some much-needed constructive criticism.

Commodities, Uncategorized

The Inflation Tsunami (Part Two of Three)

April 6th, 2011

Notwithstanding our critical view of Japanese economic policy described in part one, clearly they did not bring the recent earthquake and tsunami upon themselves. The same cannot be true of western governments and central banks, which bear full responsibility for the credit crisis of 2008-09 and the counterproductive policy responses implemented in its aftermath. Having sowed the monetary wind with a massive expansion of the money supply in 2008 and early 2009, they are now reaping the inflationary whirlwind, as recent commodity, producer and consumer price data make increasingly evident.

While any informed observer is aware that commodity prices have risen sharply in recent months, not all may have noticed that commodities also have strongly outperformed the equity markets which, until recently, were also in a clear uptrend. The Dow Jones/UBS broad commodity index has risen by 23% in the past six months and by 28% over the past year, in comparison to the S&P500 equity index, which is up by only 16% and 12%, respectively, over those periods. An outperformance of commodities versus equities is a characteristic of a generally inflationary environment, as was observed during the 1970s, for example.

Evidence that commodity prices are pushing up producer prices is increasingly evident, yet a look behind the headline data indicates that much more inflation is coming through the pipeline. US PPI y/y is currently rising by 5.6%, but that for intermediate goods stands at 7.8% and that for crude goods at 15.9%, clear indications that pipeline inflationary pressure is building. Producer price inflation in most other parts of the world is also picking up. In Europe’s largest economy, Germany, it has risen to 6.4% y/y, notwithstanding the recent strength of the euro.

Consumer price inflation, now at 2.1% y/y, remains relatively subdued by comparison. But that is to be expected as CPI lags developments in commodity prices and PPI, sometimes by a year or more. The relationship, however, is clear. There have also been two unusually large back-to-back m/m increases of 0.4% and 0.5%, respectively, an indication that a surge in consumer price inflation is now underway. This is not lost on US consumers, who perceive that inflation is picking up. For example, according to the Conference Board, consumers currently expect inflation of 6.7% by next year, a large increase from an expectation of 5% in mid-2010 and well above the 10-year average.  This rise in inflation expectations is arguably more economically damaging than inflation itself. While inflation results in misallocated resources, it is when inflation expectations become entrenched that the potential for economic ‘stagflation’ grows. Rather than engage in normal commerce, economic behavior begins to change in ways which are inefficient. For example, businesses and households seek to hold larger inventories in anticipation of rising prices. But by withholding goods from circulation, the overall economy becomes less efficient, devoting more resources to storage rather than production, trade or consumption of goods, the basis of sustainable economic activity and growth thereof.

With specific reference to the US, there can be no clearer sign that inflation expectations are surging than when the Head of US Operations of none other than WalMart, Mr Bill Simon, makes a public statement that inflation is rising and that his firm has no choice but to raise prices. WalMart played a major role in consumer price disinflation over the past two decades, as China and other cheap producers came on line and exported their way to economic power, yet it has now called the end of the great disinflation and, drawing on the widespread evidence cited above, demonstrates that the ‘tipping point’ of inflation has been reached. The inflation tsunami is rolling across the economic landscape as we write.

So far, the Fed seems rather oblivious to this development. Indeed, the Fed keeps right on inflating as if it is not doing enough. One look at the recent surge in base money growth–the only form of money under direct control of the Fed–suggests that, at first glance, the Fed actually believes that it needs to add further liquidity to the already enormous inflation tsunami it created back in 2008-09. Perhaps the bureaucrats know something we don’t. Or perhaps they are making yet one more mistake in a long series of mistakes. We leave it to the reader to interpret the chart below and draw their own conclusions.

US base money growth has surged by over 20% year-to-date.

The Fed will soon have a mighty struggle on its hands to keep inflation, both actual and expected, under control. But this presents it with a dilemma: Either confront rising inflation expectations with sharply higher interest rates as Paul Volcker did in 1979-81, thereby triggering a deep recession amidst already high unemployment; or allow such expectations to become entrenched both at home at around the world, such that the dollar loses its pre-eminent reserve currency status, implying a far lower purchasing power than that which obtains today.

The Fed must either take the economy off of life support to save the dollar or keep the economy on life support and watch the dollar–at least as we know it–die. But let us not forget, this dilemma is entirely of the Fed’s own making, the inevitable result of a long-held inflationary bias, colloquially known as the Greenspan/Bernanke ‘Put’, that is, the implied bail-out for excessive risk-taking that has existed in theory ever since the Fed came into existence in 1914 but which was applied repeatedly in practice under Chairmen Greenspan and Bernanke, with Lehman Brothers proving the largest material exception to the rule.

There are those who, in the face of soaring money supply growth and inflation, believe that the Fed is in fact entirely comfortable with a somewhat higher inflation rate as this will help to erode the enormous debt burden carried by the US economy following the colossal housing and credit bubble of 2003-07. Perhaps. But we don’t think it matters whether the Fed is deliberately creating much higher price inflation or not. In either case, the rest of the world is not going to sit idly by and watch the Fed further destabilize the global economy. One country after another is taking action to try and insulate themselves from reflationary Fed policies.

Along these lines, China and India continue to raise interest rates, as do many other smaller economies. In a related action, last week Brazil announced it was imposing a 6% tax on foreign purchases of domestic bonds, as a way of reducing so-called ‘hot-money’ flows, that is, those seeking higher yields in Brazil relative to the US, Japan, Europe and other places where yields are historically low.

Such actions are a form of capital controls. It is a sign of the times, to be sure, that in a recent commentary, even the International Monetary Fund, historically no fan of capital controls, argues that there are, from time to time, situations in which they might play a constructive role. But for every capital control action there is an equal and opposite reaction: Constraining or otherwise distorting the flow of capital implies, in due course, constraints and general distortions on the flow of trade. You can’t have one without the other. And what is negative for global trade is, by definition, negative for global growth. The screws on the Fed’s printing press are tightening both at home and abroad. Beyond a certain point, additional growth in the US money supply will have next to no impact on real growth, only on nominal growth, as real goods are increasingly withdrawn from circulation, resulting in pure and immediate inflation.

When that point is reached, it is game over, checkmate. Sadly, in this game, there are no winners.

Regards,

John Butler,
for The Daily Reckoning

[Editor's Note: The above essay is excerpted from The Amphora Report, which is dedicated to providing the defensive investor with practical ideas for protecting wealth and maintaining liquidity in a world in which currencies are no longer reliable stores of value.]

The Inflation Tsunami (Part Two of Three) originally appeared in the Daily Reckoning. Daily Reckoning founder Bill Bonner recently wrote articles on stagflation and introduced his new book Dice Have No Memory: Big Bets & Bad Economics From Paris to the Pampas.

Read more here:
The Inflation Tsunami (Part Two of Three)




The Daily Reckoning is a contrarian e-letter, brought to you by New York Times best-selling authors Bill Bonner and Addison Wiggin since 1999. The DR looks at the economic world-at-large and offers its major players – investors, politicians, economists and the average consumer – some much-needed constructive criticism.

Commodities, Uncategorized

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