The Coronacrisis has been a boon for America’s wealthiest dozen, taking their aggregate wealth over the top of a trillion dollars. One think tank refers to them as the “Oligarchic Dozen”: “The rich get richer†doesn’t even begin to tell the story these days. According to the Institute for Policy Studies, the wealth of the […]
Archive for August, 2020
Coronacrisis Turns Buyback Billionaires into the Trillion-Dollar Dozen
Posted August 20, 2020 By David HaggithDenial Dominates the Dummies
Posted August 15, 2020 By David HaggithOne of my reasons I started this website years ago was to counter all the denial that I saw in the mainstream media about how long and deep the problems from the Great Financial Crisis would be and about how we were failing in every way to resolve the greed, decay and especially faulty thinking […]
US in Longterm Economic Decline
Posted August 11, 2020 By David HaggithMeasured by the common man (or common girl), we’re on the road to ruin. The US has been in decline for decades, but you can’t see that by looking at stocks. You can’t tell it from those who lie about the economy to make their living, but look at longterm real numbers, and you see […]
Note to Patrons
Posted August 8, 2020 By David HaggithFirst, FYI for non-patrons, the subject of the latest Patron Post and of the last couple has been hyperinflation and the big difference now in how the Fed is creating money, which is much more critical in terms of hyperinflation than just how much it is creating. The article I just posted also touches on […]
Magic Monetary Theory Comes at a Price
Posted August 8, 2020 By David HaggithOnce upon a time, US money supply was increased in keeping with gross domestic product … and then something went wrong: Terribly wrong. Money started growing exponentially, but GDP didn’t see the slightest bump in growth. Nevertheless, the central bank became unable to stop itself from making more and more of the stuff, though it […]
Labor Dept. Trumps Its Own Numbers
Posted August 7, 2020 By David HaggithSpin it up, Boys! Spin it up high! The Labor Department should go into the money-laundering business because they own the fastest-spinning, number-washing machine out there. Early this week, Trump promised really big numbers would be seen in Friday’s jobs report. Since presidents do not usually get the numbers until just before they are released […]
No “V” in Reco_ery
Posted August 5, 2020 By David HaggithThese pictures are worth thousands of words:
How Price Inflation Works, and Why it May Finally Work Now!
Posted August 4, 2020 By David HaggithI’ve said this before, but there is a strong reason why it has been clear we would NOT have price inflation during all the Federal Reserve’s money creation after the Great Recession and why we very well could have it now. I think this deserves a quick summary because even financial writers don’t get it.