MOGAMBO GURU: My Mood Is Dark

[Tace]

Richard Daughty, the angriest guy in economics

I knew it! I knew that Greenspan and the horrid Federal Reserve would again start cranking out more money and credit creation! They can't stop! And sure enough, last week they again started increasing Total Fed Credit, this time by a cool $5.8 billion, which, after cascading through the banking system at the unbelievable fractional-reserve rate of almost 100:1, created a potential $580 billion increase in the money supply. To turn it into money, all that needs to be done is somebody walking into the bank and borrowing it!

(more)

http://worldnewstrust.org/modules/AMS/article.php?storyid=930

[Taxloss]

1. I love this guy.

Heavyweight stuff made hilarious.

[Tace]

2. Me Too -- He's A Fairly Hard-Core Libertarian...

and a member of the conservative Austrian School of economists. But, he's good for a few yuks every week, and I enjoy the subject matter.

[Taxloss]

3. That's the odd thing about economics (apart from the fact that it's

a pseudoscience, the bastard child of accounting and astrology):

This guy may be a conservative libertarian, but his analysis is still spot on. A debt is a debt is a debt. He's simply showing how the existing system is falling to bits. He has his own replacement system; I have mine. That's a different story. And he writes brilliantly.

[wli]

4. whoa, talk about 1929 garbage

This is getting dangerous.