Less Than ZIRP

    The justification for a moderately high rate of interest has been found hitherto in the necessity of providing a sufficient inducement to save. But we have shown that the extent of effective saving is necessarily determined by the scale of investment and that the scale of investment is promoted by a low rate of interest…Thus it is to our best advantage to reduce the rate | Read More »

    Less Than ZIRP

    The justification for a moderately high rate of interest has been found hitherto in the necessity of providing a sufficient inducement to save. But we have shown that the extent of effective saving is necessarily determined by the scale of investment and that the scale of investment is promoted by a low rate of interest…Thus it is to our best advantage to reduce the rate | Read More »

    Saving Millions, Spending Trillions

    The U.S. Forest Service will stop repainting new cars.  Air force jets will use cheaper fuel.  The Justice Department will book travel online instead of saving or creating jobs for those expensive travel agents. Add it all up and we’re talking $102 million in taxpayer savings for fiscal year 2009: “These savings reflect the president’s belief that even small savings can add up,” White House budget | Read More »

    The 2 Trillion Dollar Lie

    “It turns out that $1.6 trillion of the “savings” Obama is anticipating are based on the surge in Iraq continuing for 10 more years” Well lie might be a bit of an overstatement but this type of creative accounting can certainly be called dishonest! As Commentary Magazine reports – This has to be seen to be believed:” This has to be seen to be believed: | Read More »

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    Another Silver Lining to This Recession

    From the diaries by Erick. U.S. household debt is falling and the savings rate is on the rise. Economists say consumers appear to be curbing their spending and displaying a healthy prudence about taking on new debt — something financial planners have been admonishing Americans to do for decades. What economists don’t know is whether people are bringing down their debt voluntarily or whether it’s | Read More »