Gerard Jackson
Are Obama’s policies burying the US economy?
Gerard Jackson Monday 28 March 2011
When Obama ran for president I warned that the man is a dogmatic leftist and Americans — those with any sense, that is — would rue the day he sat in the Oval Office. Since then I, along with many others, also pointed out that if unchecked his policies would result in economic stagnation and inflation. Well, this now seems to be the case. Read the rest of this entry »
A carbon tax will devastate Australian manufacturing
Gerard Jackson Monday 28 March 2011
Mark Dreyfus, Federal Labor Member for Isaacs, is another lying Labor Politician who cannot get his story straight. A recent article of his (Shades of Goebbels in ‘truth campaign’, The Age, March 11, 2011) was riddled with so many lies and distortions in defence of the Government’s destructive carbon tax that it would take a very long article to refute them all. I’ll therefore focus on the one lie the refutation of which explains why the carbon tax would savage the standard of living. Read the rest of this entry »
Will Japan’s disaster deepen the US recession?
Gerard Jackson Monday 28 March 2011
Japan’s tragedy has led some economic commentators to ponder the possibility that she might try to fund a recovery by selling masses of US treasuries which would raise interest rates and therefore deepen the depression. The thinking behind this view is based on the assumption that in buying huge amounts of treasuries Japan — and China — helped drive down interest rates by raising bond prices. Read the rest of this entry »
Green economic policies would devastate living standards
Gerard Jackson Monday 21 March 2011
The theory of a steady state economy (stationary economy) is not only central to green thinking, something that Senator Bob Brown admitted, it is in fact the green fanatics’ ultimate goal. It would also be a totalitarian nightmare. I think it best to begin with description of a steady state economy followed by the greens’ main criticisms of economic growth and ending with an explanation of why their green utopia would be a vicious tyranny. Read the rest of this entry »
A good looking economy is not always a good economy
Gerard Jackson Monday 14 March 2011
It is said that many look enviously upon the Australian economy’s success in not only weathering the global financial crisis but to continue to prosper. Of course, there is no gainsaying the role that the resources sector played in providing the country with a vital economic buffer. But is everything as rosy as many seem to think, including some of our Treasury boffins? Read the rest of this entry »
Why Gillard and Combet’s carbon tax will be a disaster
Gerard Jackson Monday 14 March 2011
A carbon tax is an insidious and destructive tax the aim of which is to slash the standard of living. Those who sincerely believe otherwise have been gravely misled. Fortunately the mass of Australians smell a rat. Irrespective of what greens and Labor politicians assert, you do not raise the standard of living by reducing real incomes, which is exactly what a carbon tax is supposed to do. Read the rest of this entry »
We will pay a heavy price for Julia Gillard’s technology fantasy
Gerard Jackson 14 March 2011
Listening to Julia Gillard and Greg Combet talk promote a carbon tax while lecturing us on the nature of technical progress reveals just how much Australian have to fear from the Labour Government and their green collaborators. Gillard is not only delusional she is — along with Combet — an arrogant ignoramus. Only someone totally ignorant of economic history and the history technology could utter their drivel. Read the rest of this entry »
Bernanke’s inflationary binge could spark a currency war and ruin the dollar
Gerard Jackson Monday 8 November
Bernanke’s monetary shenanigans are building up a host of problems, domestic and international. In the next 8 months or so he plans to pump nearly $900 million dollars into the US economy with the intention of lowering interest rates to the point where business borrowing and consumer spending will be sufficiently stimulated to trigger a recovery. (If only it were that simple.)
Posted in Bernanke, dollar, Gerard Jackson, inflation, monetary policy, Money Supply, Recession, US economy, US unemployment
The failure of Roosevelt’s New Deal proves why Obamanomics cannot work
Gerard Jackson Monday 8 November 2010
Americans are still regaled with tales that Obama’s spending binge and massive deficits are vital to an economic recovery. As evidence many of his supporters are citing Roosevelt’s New Deal as proof that deficits work. In fact, the New Deal was an economic disaster that kept the US in depression until WW II restored full employment.
Has the Democratic Party become a socialist party?
Gerard Jackson Monday 8 November 2010
A socialist state is defined as one in which the economy and much of one’s personal life is centrally planned, meaning that the rulers and their bureaucracy decide what is to be produced, which lines of production are to receive investment and which are not, how much is to be consumed and invested, etc. (Irrespective of what some socialists assert it is impossible to impose central planning without controlling the people.)
Bernanke’s snake oil and Obama’s leftism will be the undoing of America
Gerard Jackson Monday 1 November 2010
What is truly remarkableis that any Democrats at all will survive the mid-term elections given that there probably has never been a more incompetent and dogmatic administration than Obama’s White House carnival. What passes for economic policy is a complete shambles, and Bernanke’s crude Keynesianism is only aggravating the country’s pain.
Are we facing an inflationary surge and higher rates?
Gerard Jackson Monday 1 November 2010
When the CPI for the third quarter came in at 0.7 per cent many opined that this means that the Reserve would hold the line on rates. However, others argued that the 1.3 per cent rise in the producer price index indicated inflationary pressure was emerging and that this would force the Reserve to raise rates. So what is the real situation?
Deflation is not the enemy — bad economics is
Gerard Jackson Monday 1 November 2010
According to Alan Blinder “the present danger is not inflation but deflation”. His pal Bernanke has driven the Fed’s funds rate down to zero while giving the US economy an unprecedented increase in its monetary base. Not satisfied with that he is now apparently preparing an astonishing $2 trillion monetary expansion — and Blinder worries about deflation!
Why the US economy is floundering and where it is going
Gerard Jackson Monday 18 October 2010
Last year I explained that there would no recovery and that manufacturing was heading for a slowdown. Both of these predictions came to pass. I am forever stressing that the boom-bust cycle is caused by monetary expansion largely consisting of phony bank deposits. In plain English, we call this credit expansion.
Posted in Bernanke, deficits, Federal Reserve (USA), Gerard Jackson, interest rates, Keynesianism, Obama, Recession, taxes, Unemployment, US economy
Obama’s leftwing beliefs created current conditions
Gerard Jackson 18 October 2010
I warned from day one that an Obama presidency would be a disaster for the US economy (not that it’s doing the body politic any good). Let us first clear the air about who is to blame for starting the recession. The culprit is lousy economics. If it were not for the central banks’ appalling lack of genuine monetary and capital theory the boom-bust cycle would be a thing of the past. (The early classical economists had a better understanding of the banking system and it affect on the economy than any central bank’s ‘research’ department.)
Deficits, taxes and the Democrats’ hypocrisy
Gerard Jackson Monday 18 October 2010
Raising taxes to eliminate the Obama’s deficit would be thoroughly destructive. But when it comes to taxes the Americans have been there before, along with everyone else. A look at the 2004 election tells us that the Democrats have learnt nothing from history, nor do they want to.
Posted in deficits, Democratic Party, Democrats, Economic growth, Gerard Jackson, Investment, Obama, taxes, US economy
Will ‘technological unemployment’ be Obama and the Democrats latest defense?
Gerard Jackson Monday 11 October 2010
The news is out: things ain’t getting better, which means America’s phony media will have to start digging up more excuses for the Democrats’ failed economic policies. Alana Semuels, Harvard graduate and a ‘reporter” for the Los Angeles Times has come up with a real old chestnut: technological unemployment. (She gets an A for effort and an F minus for lack of imagination.)
Posted in Economic growth, Gerard Jackson, Investment, Recession, Unemployment, US economy, US unemployment
The Reserve Bank puts a hold on rates as manufacturing declines
Gerard Jackson Monday 11 October 2010
While a number of commentators thought it likely that the mining boom would force Glenn Stevens, governor of the Reserve Bank of Australian, to raise interest rates I took the opposite view. So far I have been proved right. I reasoned that one would have to be an idiot to focus entirely on the mining boom at the expense of other factors. And Glenn Stevens is no idiot, even though his economic reasoning is deeply flawed.
Keynes’ dangerous fallacies and errors
Gerard Jackson Monday 11 October 2010
Now that Keynesianism is being promoted with renewed enthusiasm (clear evidence that economic fallacies never really die) we should take a look at Keynes’ dangerous fallacies and errors. Some years ago Alex Millmow, a Keynesian and senior lecturer in economics at Charles Sturt University at the time, wrote enthusiastically in the Australian Financial Review of Geoff Harcourt and Peter Riach’s commissioning of a two-volume set written by Keynesians that was intended as a ‘rewrite’ of Keynes’ General Theory of Employment Interest and Money. According to Millmow, this work would put an end to arguments about “what Keynes really meant”. Well the works were published and, as expected, they did not put an end to “what Keynes really meant”.
US economy: demand deficiency is not the problem and Keynesianism is not the solution
Gerard Jackson Monday 4 October 2010
In trying to explain the state of the American economy the commentariat is still blaming the lack of consumer demand. But as the classical economists always pointed out when presented with this fallacy, consumption is never a problem but production is.