Hard hitting global and local news
Jeff Harding at the Daily Capitalist asks Why Does Hyperinflation Occur? In every modern case of hyperinflation the decision to inflate was a political one, not an economic one
Food Stamp Usage up 64% in Last Four Years, Cost up 114% in Same Period; SNAP Charts, Facts and Figures Posted by Michael Shedlock at 12:32 PM Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy
Let’s review what I said in ECB Considers Interest Rate Caps; Can Such a Scheme Possibly Work? Theory vs. Practice The ECB can "in theory" defend a price target on bonds, but only at the risk of owning every bond.
See original article: Sen. Rand Paul Speaks Out Against Senators Voting without Reading the Bills
The non-news of the day is Bernanke says scope for more Fed easing Federal Reserve Chairman Ben Bernanke says there’s room for the central bank to take more action in responding to critical questions from a top lawmaker on Capitol Hill.
Flash China Manufacturing PMIâ„¢ at 47.8 (49.3 in July). 9-month low. Flash China Manufacturing Output Index at 47.9 (50.9 in July)
Fed to Deliver More Stimulus "Fairly Soon"; How Much Stimulus Does It Take? Sell the News Event Coming Up
CBO Expects 2013 "Fiscal Cliff" Recession Because of Automatic Spending Cuts and Tax Hikes Automatic tax hikes and spending cuts will go into effect in 2013 causing a "fiscal cliff" recession according to the CBO. Massive spending cuts and tax hikes due next year will cause even worse economic damage than previously thought if Washington fails to come up with a solution, Congress’ budget referee said on Wednesday. The Congressional Budget Office said failure to avoid the so-called "fiscal cliff" of expiring tax cuts and automatic spending reductions would cause U.S
Spain Predicts 4.3% Increase in Tax Revenues, Actual Results are 3.5% Drop; Proposed "Solution" is More Tax Hikes Spain has been devastated by round after round of tax hikes.