New European Central Bank Policy: Not Even Ben Bernanke Was This Insane

Last night, in our Church prayer meeting, one of the topics mentioned was how difficult it is these days for people on fixed-incomes to survive (what with food prices up 20-30% in the recent past). I didn’t say it—I restrained myself—but my blood was gently boiling because one of the main culprits is systemically unjust economic policy. Savers are being brutally punished so that high-flying bankers can keep their mega-bonuses. Now today… this. From Bloomberg.com: “Draghi May Enter Read more […]

Seniors on Fixed Income Suffer Deprivation So NYC Real Estate Can Enjoy a Boom.

The New York Times reports: The luxury market has been strong for some time, but it exploded in the first quarter, with prices jumping 45 percent to an average of $7.4 million from $5.1 million, according to data from the appraisal firm Miller Samuel. That is the largest year-over-year increase in six years. Driving the market has been a staggering lack of inventory. Just 174 new condominium units came to market in Manhattan in the first quarter, a 73 percent drop from the first quarter of 2013, Read more […]

IMF: Entire World Needs To Stay High On American Monetary Heroin

File this under: we are ruled by morons. Also under: we are ruled by morons who are trapped and don’t have any solutions. From Associated Press: The International Monetary Fund’s managing director warned Saturday of the risks posed to global economic recovery from the reduction of the U.S. Federal Reserve’s monetary stimulus and falling prices in the eurozone. Despite growing evidence the global economy is faring better than it has for years, Christine Lagarde said policymakers around the Read more […]

Low Taxes Aren’t the Problem

It’s really simple. The rich spend a lower percentage of their income on necessities. It’s not as if rich people are forced to pay more for bread or gas just because they make more. They might pay more for something than it’s worth, but that’s also their prerogative. It’s also the case that the rich are not impacted to the same degree by inflation. Of course, hyper-inflation will quickly make paupers of us all. But in this environment of steady decrease in the dollar’s value, the people Read more […]