The bulls cheered when the Department of Commerce told us GDP was 3.5%, but then the estimate was quietly lowered to 2.8%, and now we hear that 2.2% is a more like it. In reality of course, when you take away government expenditures, which should not be in GDP anyway as they are not Production, [...]

Video link from Lewrockwell.com
Here’s an excerpt from The Law, by Frederic Bastiat, a French classical liberal (today we would say libertarian) economist:
A Fatal Tendency of Mankind
Self-preservation and self-development are common aspirations among all people. And if everyone enjoyed the unrestricted use of his faculties and the free disposition of the fruits of his labor, social [...]

For your amusement, here’s Bernanke a couple of years ago doing his best to downplay our problems:

-
To the dismay of many a fair-minded observer, Bernanke the Fool has been nominated for another term as Fed chairman. My comment is, so long as there is a Fed, who cares who runs it? The chairman, like the [...]

Graphite here. Mike has asked me to join up as a guest blogger, and since I’ve always loved the spirited mix of finance, politics, and righteous anger of The Sovereign Speculator, I’m happy to come aboard.
If you needed another sign that this deflationary crash is just getting started, take a look at this blog post [...]

Got this from Zero Hedge, an excellent new blog.
Takeaways:
The debt must be written down.
Ancient Babylon had better economic models than our Nobel laureates.
Our politicians’ constituents are not the voters, but the bankers, who are parasites.
Obama’s economic team is the same crew that raped Russia in the ’90s and they will support an oligarchy [...]

Mises Foundation founder Lew Rockwell interviewed blogger Mike “Mish” Shedlock on his podcast series:
Link here.
Topics include bailouts, ’stimulus’ plans, the benefits of deflation, and Mish’s campaigns to end bailouts and abolish the Fed.
Mish is really pushing hard politically. I’m 100% behind him, but I worry a bit about how the gangsters might respond to him [...]

From Globaldow.com:
The Global Dow is a 150-stock index of the most innovative, vibrant and influential corporations from around the world. Only leading blue-chip stocks are included in the index. Its components, like those of The Dow, are selected by editors of Dow Jones.
This is certainly a useful index that I will follow (it stands at [...]

If you haven’t read this book:

 
 
 
 
 
 
 
 
 
 
Watch this video, a lecture by G. Edward Griffin:

Click here to watch.

The market has been severely hamstrung for decades, and now that it is fainting from loss of blood, its vampire captors point to it and say, “see, markets need to be restrained or else they fail.”
–
I won’t actually comment on Krugman, other than to say that he is a socialist, and like many of his [...]

Here is a list of popular personages who predicted this credit implosion and depression while the bubble was still being blown:

Robert Prechter. In 2002, he published Conquer the Crash, How to survive and prosper in a deflationary depression. So far right on the money except gold hasn’t fallen hard (yet).

Jim Grant. Erudite writer of Grant’s [...]