Earlier this month Nobel Prize winning economist Paul Krugman wrote something which I think resonates throughout recent history and succinctly describes our current situation. In his July 1st column he wrote:
When I was young and naïve, I believed that important people took positions based on careful consideration of the options. Now I know better. Much [...]
I’ve been meaning to write about all economic lunacy perpetrated by the Federal Reserve for sometime, but this quote from this weekend’s OPEC summit just floored me:
On Friday, Prince Saud Al-Faisal, Saudi Arabia’s foreign minister, warned that the dollar could “collapse” if the US currency was mentioned in the declaration.
His remarks – [...]
One of the great things about running an independent coffeehouse is the variety of people you meet and the movements you become aware of. A year or so ago, one of our regular customers convinced us to become an exchange point and merchant for Liberty Dollars. The Liberty Dollar is a private currency which is [...]
The Fed today decided to drop the target rate for Federal funds by 50 base points, to 4.75 percent. The board felt as though this was necessary to help stabilize investments in the mortgage and stock markets after the recent unpleasantness related to default rates and MSO devaluations. Of course, this sent the stock [...]
