US economy
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 »
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 »
Can We Save America?
Steve McCann Monday 28 March 2011
Sixty years ago in February I came to the United States. I was classified as a “displaced person” from World War II with no identity or knowledge of when, where or to whom I was born, an orphan who had miraculously survived on the streets of a war ravaged city somewhere in central Europe. Read the rest of this entry »
American jobs, factories and investment: the picture is grim
Gerard Jackson Monday 21 March 2011
The Washington Post recently published a story revealing that if the hidden jobless were included in the unemployment rate it would jump to 10.5 per cent. (Hidden workforce challenges domestic economic recovery) This is a damning indictment of Obama’s economic policies and Bernanke’s monetary mismanagement. Even more damning is the fact that Obama appears completely unfazed by the situation. 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.
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
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.
The deflation myth and why Americans should welcome falling prices
Gerard Jackson Monday 4 October 2010
Some economic pundits are warning — again — that deflation poses a severe threat to the US economy, despite the fact that Bernanke is desperately trying to create an inflationary-driven recovery. Now back in November 2001 the same siren voices were singing the same seductive tune, even though the Fed was rapidly expanding the money supply.
Obama’s policies are playing havoc with the US economy
Gerard Jackson 27 Sept. – 3 Oct. 2010
As soon as Obama threw his hat into the presidential arena I warned that if he were to win the consequences for the US economy would be very grave. Time — and a very short time at that — has borne out this prediction. Rather than stimulate the economy I warned that his policies would — if not reversed — lead to economic stagnation. At best a situation where the rate of capital accumulation barely keeps abreast of population growth thereby preventing a significant rise in real wages. This, I argued, would be due to the massive increase in government misdirecting resources to consumption.
Why another stimulus won’t save the US economy
Dr Frank Shostak 7 Sept. – 3 Oct. 2010
Despite the massive fiscal stimulus package of nearly $800 billion approved by the Congress early last year, and trillions of dollars pumped by the Fed, the rally in various key economic data seems to be coming to an end. After falling to 32.5 in December 2008 the ISM manufacturing index peaked at 60.4 in April this year. In August the index stood at 56.3. Also the unemployment rate remains stubbornly high at 9.6per cent with almost 15 million Americans out of work.