Mugabe’s been bouncing some checks.
For those who don’t know Zimbabwe was once a pretty prosperous country, more like mighty South Africa to the south than Zambia to the north. Now it’s a basket case rife with all forms of corruption and cronyism.
Tag Archives: Hyperinflation
The Dollar, the Fed, and Freedom
* I gave this speech on April 15th, 2009, in Charlottesville, Virginia. I had forgotten about it, but stumbled across it again today. It deserves a post to ACC.
The Mainstream is Starting to Talk About Hyperinflation In a Serious Way
Art Cashin, floor director for UBS, in a King World News interview discusses the euro (there was/is a massive short position in the euro) and the recent stock rally.
He discusses how the flash crash of 2 years ago has chased out the retail investor and how the recent Facebook IPO hasn’t helped.
And he also discusses Syria, how it is a geopolitical linchpin and could spin things out in ways the world does not yet see.
But of particular note is that Cashin, a stalwart of the establishment, brought up the issue of hyperinflation. Given the amount of liquidity in the system he believes that we should be seeing hyperinflation. People (really banks) are so scared however they haven’t unleashed the central bank created tide of liquidity. Cashin thinks the Fed is going to force open the locks.
“Paper” Money Lowers Quality of Life (For Most)
Since 1971 we have been on a nearly pure fiat currency system. When Richard Nixon broke with what was left of the gold standard the inflation wheels (that appear to be picking up speed right now) were set into motion in a big way.
We have become so conditioned to inflation that we think nothing of it so long as it is not too great. Like the frog in the slowly boiling pot of water we take little notice of what is happening – until it’s too late.
What Is Really Going on in the Economy: By Hunter Lewis
Marion, AL Chamber of Commerce – Speech on 1/19/2012
It’s an honor to be here with you tonight. And a pleasure.
The topic is: What’s Really Going on in the Economy? It’s an important topic. If we get the answer right, we will all make better business, investment, and personal financial decisions.
I would also like to preface my remarks by saying that economics is closely involved with politics. But I am not going to give you a Republican or Democrat version of events. I am not a partisan of either party and I’m not looking at things that way. If I say anything that offends anyone’s politics, let me apologize in advance. That’s not my intention.
