The Obama Budget is no more honest than Madoff’s track record. If Madoff deserved jail for life – what do our politicians deserve? Here is Obama’s budget. He wants to destroy the economy raising taxes on everything and bring down the iron curtain so not one penny can leave. He wants it all like Maximinus […]

I wrote a few weeks ago that the big Trading Banks will be no more. I do not believe they will be able to get a bailout again like they did. They may try to pick the next Fed Chairman to sure up their position even more. But the days of the big trading banks […]

Often what is reported in the press is the synthetic-homogenized version of facts it is hard to say who they are really trying to fool, the people or government regulators who as Madoff said are stupid. I have no time for such nonsense. Wild stories of grand conspiracies that claim there are people pulling the strings […]

In April and May 2012 there was the huge trading losses that took place at J.P. Morgan’s Chief Investment Office that were transactions booked through its London branch. I have explained before that firm bounce back and forth using New York and London to avoid regulations. That is how M.F. Global went down. The NY […]

I have been warning that we are NOT headed toward hyperinflation. That presumes the government will HONOR its obligations by just printing. I have stated time and time again, history says that is DEAD WRONG! It is plain NONSENSE!!!!!!!!!!!! Follow that crowd and you will get wiped out, jailed, and the biggest sucker punch in […]

Question: What about central banks manipulating gold? Answer: The incentive of government to “suppress” gold is far more realistic than private trading banks that simply look to make a quick buck. Government can try to maintain an image. Paul Volcker when he became Fed Chairman was faced with gold going to $875 into January 21st, […]

Karl Marx (1818-1883) Karl Marx was a German philosopher economist and father of communism, Marx was awarded his doctorate by the University of Jena in 1841. His political activities entailed a nomadic existence on the Continent of Europe until, in 1849, he settled in London where he remained for the rest of his life. The […]

Wesley Clair Mitchell 1874-1948 Wesley Clair Mitchell American economist. Educated at the University of Chicago, where he was influenced by Veblen, he later taught at Chicago, California and Columbia universities. He was one of the first researchers to use statistical techniques in the investigation of economic phenomena, in particular the determination of the level of […]

David Hume 1711-1776 David Hume was a Scottish philosopher, interested in economics. His Political Discourses (1752) contained several chapters devoted to economic analysis, the best known being his essay Of Money. Hume dismissed mercantilist fears of free trade, pointing out that money movements respond to rises and falls in prices which prevent permanent balance of […]

William Stanley Jevons 1835-1882 William Stanley Jevons (1835-1882) was a British natural scientist turned economist. He was educated at University College, London, and taught at Manchester and London. He wrote many books and papers, but by far the most important is his Theory of Political Economy (1871). He is generally given credit for initiating the […]