Play It Again, Sam (And Again, And Again, And Again…)
Bill Quick

The consequences of Greece’s impending breakdown – The Washington Post When, as now appears likely, Greece financially separates from Europe, it will at one level be no one’s fault. Summers is, of course, spouting Ruling Class bullshit. The fault lies … Continue reading

Greece: Setting An Example – But of What?
Bill Quick

So what if Greece leaves the European Union? – The Washington Post It cannot be said too often: There cannot be too many socialist smashups. The best of these punish reckless creditors whose lending enables socialists to live, for a … Continue reading

Doing the Drachma Kabuki
Bill Quick

Grexit and the Eurozone: Can Greece and the EU Avoid Default? – The Atlantic The scariest quote for the world economy this week came from a member of the European Central Bank’s executive board. Asked by Eurogroup President Jeroen Dijsselbloem … Continue reading

Will It Happen? Absolutely. When Will It Happen? Don’t Know. Sooner Than You’d Expect, Though
Bill Quick

Government debt threatens to send U.S. economy into death spiral, CBO warns – Washington Times Rising federal debt threatens to choke economic growth within a decade, beginning a death spiral that will sap revenue from government programs even as demands … Continue reading

Phonies
Bill Quick

Currency Politics | National Review Online So, I guess we’re going to take Andrew Jackson off the 20-dollar bill and replace him with Harriet Tubman. Fine, fine. But now I’ve learned that Britain is going to boot Adam Smith from … Continue reading

The Instawife: Coming Out From the Shadows
Bill Quick

Are You a Shadow Worker? | Dr. Helen As the author points out: “In the 1950s, tasks like pumping gas, typing letters, researching products, checking out groceries, composing salads, disposing of cans and bottles, handling bank deposits, and driving the … Continue reading

If Wishes Were Horses
Bill Quick

Illinois Supreme Court rules landmark pension law unconstitutional – Chicago Tribune he Illinois Supreme Court on Friday unanimously ruled unconstitutional a landmark state pension law that aimed to scale back government worker benefits to erase a massive $105 billion pension … Continue reading

Rahmbo Will Ride the Sinking Ship Down
Bill Quick

Bloomberg Briefs Now that Rahm Emanuel has been reelected mayor of Chicago and that distraction is out of the way, we can all start thinking about the future of the city. I’m not a betting man. If I were, I’d … Continue reading

Lots More Bubbles Yet to Pop, Lots More Crashes Yet to Crash
Bill Quick

Is Another Financial Crisis On the Way? – Reason.com Perhaps most useful, Hidden in Plain Sight makes it clear that the next crisis will likely be caused by people peddling-or at least believing-a false narrative about the last one. This … Continue reading

I Hope They Stiff the Bondholders For Every Penny
Bill Quick

Sucker Bet by Stephen Eide, City Journal March 29, 2015 Finally, Orr, who directed Detroit’s bankruptcy, has acquired a reputation for lacking respect for the legal rights of creditors. Past comments about “these Huns on Wall Street” will cause Atlantic … Continue reading

Money to Burn
Bill Quick

Sweden cuts rates below zero as global currency wars spread – Telegraph Sweden has cut interest rates below zero and launched quantitative easing to fight deflation, becoming the latest Scandinavian state to join Europe’s escalating currency wars. The Riksbank caught … Continue reading

Unforeseeable
SteveF

Venezuela leader orders takeover of supermarket chain Venezuelan President Nicolas Maduro on Friday ordered the government takeover of a private supermarket chain, accusing the company of food hoarding amid huge lines and shortages in the crisis-hit country. Well, that should … Continue reading

Drain, Meet Circle
Bill Quick

These Are The RadioShack Stores That Are Closing Yes, it’s true: after somehow clinging on for the last few years, RadioShack is finally, officially bankrupt. But that doesn’t mean that every single store will be vanishing — far from it, … Continue reading