Honest Journalism and the ECB; More on Economics

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industry “seem to be suffering from amnesia about how close America came to complete financial collapse under the outdated regulatory system we had before Wall Street reform.”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/


2 responses to “Honest Journalism and the ECB; More on Economics

  1. I hope more people watch that video – Vincent Browne vs the ECB – and write to their politicians to ask for an explanation. If the Head of Division of the Directorate Economic Developments cannot help elucidate the issue a little, then perhaps the planning/propaganda division should produce a paper so the parrots have official spiel to spew.

    It is uncomfortable to watch someone choke and squirm like that, and even more discomforting knowing that little will be done once a little time passes.

    Is anyone looking at EU countries for value? In the latest Baupost letter, Europe was mentioned.

    • Well, take a look at the Swiss company, Novartis (NVS). Though I do not know of sure, I suppose the stock is being sold by institutions for redemptions and because the stock is liquid. Certainly NVS is a fine company though more obscure European companies must be cheaper on an absolute basis.

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