Category Archives: Republish

Reality Check – Five Mainstream Economists Sound a Warning

Here is Gary’s essay, Five Mainstream Economists Sound a Warning. For more by Gary, visit his website at http://www.garynorth.com/.

Gary reviews the situation of the US deficit:

  • the on-budget deficit: a mere $1.2 trillion a year.
  • the real federal deficit, which reflects the unfunded liabilities of the federal government, primarily in Social Security, Medicare, and Medicaid … has a present value of $222 trillion.
  • It cannot, except by one technique, namely, default.
  • The Fed now owns one in six dollars of the national debt
  • The five’s conclusion: The problems are close to being unmanageable now. If we stay on the current path, they will wind up being completely unmanageable, culminating in an unwelcome explosion and crisis.

Gary’s conclusion:

Nothing will change Congress. Nothing will change the executive. There will be no cutback in spending until the numbers force the Great Default. … Americans will not be ready. State and local governments will not be ready. … Will you be ready?

Reality Check: 20120911

Here is Gary’s essay, How to Break the Chicago Teashers Strike in 7 Days. For more by Gary, visit his website at http://www.garynorth.com/.

The benefits previously negotiated by public sector unions and thir ongoing demands are unfordable. Dealing with these unions will become an  imperative over the next few years. This essay could serve as a useful template for dealing with any public sector union.

Things That Make You Go Hmmm…: 20120903

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In his usual entertaining style, Grant lures us with a selection of terms of obscure phobias. He then begins a discussion of the phobias that our monetary authorities have: an extreme fear of deflation, depression and recession. Key ideas that Grant presents are:

  • He gives a historical timeline of recessions, depressions and panics or depressions in the US. One interesting observation he makes is that they have not significantly impacted the steady overall growth of GDP. Another is that since the Great Depression we have not had another.
  • Grant discusses the failure of QE.
  • He also discusses how the Fed may be blind to the market distortions their paolices are causing.
  • He notes that: With stock market volumes at generational lows while markets crawl to within coo-ee of their all-time highs, it is readily apparent that those participants still playing are doing so in anticipation of getting a nice, juicy Fedinduced bump into which to sell
  • Perhaps the key summery point hr makes is: QE3 IS coming folks. Maybe not quite yet, but soon and when it does, it will be a coordinated blitz between the Fed, the ECB, the BoE and the PBOC with the BoJ tagging along because… well, why not? He says that it will be a massive global monetization event.

Things That Make You Go Hmmm…: 20120715

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We have not reviewed this essay.

Things That Make You Go Hmmm…: 20120708

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We have not reviewed this essay.

Things That Make You Go Hmmm…: 20120819

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We have not reviewed this essay.

Things That Make You Go Hmmm…: 20120812

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We have not reviewed this essay.

Things That Make You Go Hmmm…: 20120722

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We have not reviewed this essay.

Reality Check: 20120904

Here is Gary’s essay,  Obama’s Brand of Marxism. For more by Gary, visit his website at http://www.garynorth.com/.

In this essay, Gary carefully refutes the idea that Obama is a classical Marxist. He concludes that:

If Obama is a Marxist, he has certainly hidden his true color: red. He has not pursued the central Marxist objective: proletarian revolution. … Obama is an example of the political figure who Marx despised: a bread-and-butter advocate of using the government to subsidize the labor movement, which Marx saw as undermining proletarian solidarity.

His estimation of Obama is:

The key to understanding the next four years of Obama is his desire to get a lifetime of speaking engagements at $100,000 each. He is a professional politician. If he does not go beyond what his handlers demand, he is set for life.

This is not far off our joking assessment of Obama’s all too frequent TV appearances as preparation for an anchor position on CNN.

Reality Check: 20120828

Here is Gary’s essay,  Gold Commission 2. For more by Gary, visit his website at http://www.garynorth.com/.

We are republishing this essay on the topic of gold-backed currency in order to capture it should we want to write on the topic in the future. The reader may wish to read it in its entirety below. We will offer no further comment.

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