Money and Markets:
While most pundits are still grasping at anecdotal “green shoots” to celebrate the beginning of a “recovery,” the hard data just released by the Federal Reserve reveals a continuing collapse of unprecedented dimensions.
It’s all in the Fed’s Flow of Funds Report for the first quarter of 2009, which I’ve posted on our website [...]
100StimulusProjects_ASecondOpinion
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Ai note: must read for any serious investor. Andy Xie, guest economist to Caijing and a board member of Rosetta Stone Advisors Ltd.
Regardless of what investors or speculators say to justify their punting, the real driving force is the return of animal spirit. After living in fear for more than a year, they just couldn’t [...]
The net result remains: private loans will utilize existing resources and capital far better than government loans. Government loans will waste far more capital and resources than private loans. Government loans, in short, as compared with private loans, will reduce production, not increase it.
Henry Hazlitt
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Division of Labor:
The argument that the tariff reduces quality is generally under-appreciated. For example, while the U.S. automobile industry has any number of problems, it is undeniable that the quality of the automobiles for sale in the United States has dramatically improved after the U.S. auto market opened to foreign competition. This improvement in quality [...]