We’ve long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.–Warren Buffet
Good Journalism: Relentlessly Asking the Critical Question
Oh no, an Irish journalist, Vincent Browne, asks ECB bankster, Klaus Marsuch, about the ELEPHANT in the room. Browne asks, “Why do Irish people have to pay billions to a DEFUNCT bank to bail-out UNGUARANTEED bank bondholders?” Say it ain’t so! Do you think the bankster answered his question?
Question to Readers: “If central economic planning has been shown to repeatedly fail as shown by North Korea, Cuba, Soviet Russia, Eastern Europe, etc., why do Americans and Europeans tolerate a CENTRALLY planned financial system ruled by the FED and the ECB? Why tolerate a perpetually flawed financial system?
Must watch: http://www.youtube.com/watch?v=HAf7J4a_T1g
David Stockman’s gruesome interview: The US is supersaturated with debt. http://www.usatoday.com/money/economy/story/2012-03-03/david-stockman-says-economic-disaster-lurks/53339644/1
Austrian Business Cycle Theory Lectures
For beginners: Robert Murphy Lectures on Austrian Economics: http://www.youtube.com/watch?v=hkDYsRDah3I&feature=related
For more advanced students: Roger Garrison’s Lecture on the Austrian Theory of the Trade Cycle (“ABCT”) http://www.youtube.com/watch?v=jFqtTj7TeO0
Advanced students: Prof. Kizner’s Lecture on ABCT: http://www.youtube.com/watch?v=uhdNmHONY-E&feature=related
Current article on 17 years of debt-fueled boom and bust:http://mises.org/daily/5938/Seventeen-Years-of-Boom-and-Bust
Propaganda on the Crisis
Treasury Secretary Timothy Geithner charged in a Wall Street Journal op-ed that those who oppose the Obama Administration’s regulatory regime for the financial services industry “seem to be suffering from amnesia about how close America came to complete financial collapse under the outdated regulatory system we had before Wall Street reform.” Au contraire, Secretary Geithner, it is you who choose to ignore and misrepresent the lessons of the financial crisis by perpetuating the myth that the source of the crisis was a lack of regulation.
Full article here: http://www.forbes.com/sites/charleskadlec/2012/03/05/tim-geithner-covers-for-corruption-on-pennsylvania-avenue/
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