When the next recession unfolds, central banks will be unable to reverse a downturn, says former United States Treasury Secretary Larry Summers. In other words, the global central banks are out of bullets. Speaking in an interview with CNBC, Summers explained that central banks slash interest rates by around 500 basis points in order to […]
Archives for October 2016
Ouch: Clinton staffer caught saying ‘I could grab [her] ass’ and not get fired
For the past week, the mainstream media and Hillary Clinton campaign have repeatedly denounced Donald Trump’s comments about “grabbing her by the p*ssy” 11 years ago. They have gone on a moral crusade, espousing that locker room talk is not acceptable in today’s world. As this new Project Veritas video suggests, it seems the Clinton […]
Keynesians rejoice! Hurricane Matthew caused estimated $10 billion in damage
Keynesians can celebrate: Hurricane Matthew is expected to cost $10 billion as it impacted, impaired or destroyed more than one million structures from Florida to North Carolina. Despite inflicting far less damage than initially expected, Hurricane Matthew has created a long lasting impact for jurisdictions in the southeast part of the United States. Homeowners, business […]
Is the Federal Reserve a political institution? Ron Paul says it’s ‘an open secret in Washington’
Ever since Republican nominee Donald Trump accused the Federal Reserve of being a political institution, the establishment – both media and policymakers – have tried to dismiss this idea (SEE: Donald Trump is right – Federal Reserve is a political tool to help the White House). Even CNN attempted to claim that the United States […]
War on Cash: Will eliminating cash save the economy?
By: Frank Shostak Given the still-subdued economic growth many experts are of the view that the presence of cash has constrained central banks from setting negative rates to stimulate the subdued economic activity. In a future economic or financial crisis, current low rates would restrict the effectiveness of monetary policy, so it is held. The […]