Tag Archive
The Decline of the Dollar and other Economic News
A few financial/economic links to check out: The Dollar Adrift (WSJ): The dollar is getting killed, thanks to the Fed keeping the money spigot on full blast to “fight deflation” during this recession. So instead of dealing with a mere downturn, we’re setting ourselves up for a full-scale currency crisis as the rest of the... »
Pope calls for a “Global Authority” for worldwide economy
An interesting encyclical, “Caritas in veritate,” from Pope Benedict on Tuesday has expressed the need for a global government with “real teeth” that could manage the global economy and “open up the unprecedented possibility of large-scale redistribution of wealth on a world-wide scale”: “There is a strongly felt need … for a reform of the... »
Forbes article on Andy Beal
Excellent article on Andy Beal at Forbes.com today. A couple of especially noteworthy quotes:”We must be the only bank that has tripled in size in the last eight months, but we aren’t eligible for nothing,” says Beal. “The crazy thing is guys who weren’t real responsible are eligible.” “He thinks the government is going to... »
Global Currency to Take Place of the Dollar
I’ve been saying for some years that the dollar would collapse (probably in the 20-teens) and be replaced by a global currency doled out by an international bank (i.e. a true central World Bank). Today’s WSJ mentions that this was precisely the suggestion of China as one of the solutions to the present economic... »