Confusion and uncertainty will remerge [sic] as the headlines focus on the debt ceiling debate over the coming weeks.
If politicians use the debt ceiling to contain big government, already anemic economic growth will implode rather quickly. We have talked about this for years both here and on jsminset.com, infinite liquidity in terms of fiscal and monetary policy are no longer options but rather necessities. Failure support the market with both translates to economic suicide for Western economies.
Failure to raise the debt ceiling in the coming months means failure to pay interest on past debt and international default. The Chinese and Japanese both showing a tendency to play ball with the US (cooperate with their own agenda) won’t forgo interest payments on existing debt without extreme compensation. Failure to appease means the old economic game as ended; this means immediate monetary and economic...
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Scooped by Hal onto Gold and What Moves it. |
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http://usawatchdog.com/bernanke-playing-with-fire-laurence-kotlikoff/ - Economist Laurence Kotlikoff says, "We are actually in worse shape than any developed country. . . We are using accounting that would make Bernie Madoff blush." Kotlikoff thinks the Federal Reserve could easily lose complete control of inflation and warns, "Ben Bernanke is playing with fire here because we could have a tripling of the price level." Join Greg Hunter as he goes One-on-One with Boston University Economics Professor Laurence Kotlikoff.
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Confusion and uncertainty will remerge [sic] as the headlines focus on the debt ceiling debate over the coming weeks.
Hal's insight:
Click over for the rest. Eric makes reference to a formula that Jim Sinclair created that details how raising taxes reduces economic growth. |
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Analysts attributed the sudden rise in gold imports to brisk buying by traders as they rushed to place orders ahead of an expected rise in the import tax.
NEW DELHI(BullionStreet): Indian government's efforts to control gold imports and the overall hunger for gold by majority of it's population suffered a setback as imports surged on the first week of this year.
Traders have imported between 25-30 metric tons in the past one week compared to five to seven metric tons in the previous few weeks, said Prithviraj Kothari, managing director of Ridhi Sidhi Bullion Ltd.
Analysts attributed the sudden rise in gold imports to brisk buying by traders as they rushed to place orders ahead of an expected rise in the import tax. ... Delete the scoop?
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Click over for the rest. Eric makes reference to a formula that Jim Sinclair created that details how raising taxes reduces economic growth.