We're All In

I just love listening to Team Red and Blue continue to blame each other for everything. The chart below confirms the responsibility.  The answer: they all participated and we did too by accepting "the credit".  Remember "no interest loans"?  Zero percent financing? 4% mortgage refinance?

While Bush I was held back by Sir Greenspan, he wanted to print as much as the others.  This curve is looking outrageously steep too!

True Money Supply (Source: Agora Capital)

Japan's China Syndrome

After reading articles about the Japanese nuclear reactor this weekend, I decided to watch the movie "China Syndrome". An interesting watch. With this current event in Japan, we've probably just pushed back any nuclear initiative another ten years. One should first ask the question, "should we build nuclear reactors on subduction zones known as 'The Ring of Fire?'".  Obvious question today, but the entire country has this same geography problem.  Japan has no natural resources and a nuclear initiative with an unstable subsurface. What's one to do?

This event will definitely  push back the conversation.

The Great Maestro On Gold.....Again

"Fiat money has no place to go but gold."
Alan Greenspan (this week at the Council On Foreign Relations meeting)