John Williams, president of the Fed’s San Francisco bank, is the most recent Fed Board member to call for further easing of Fed policy. He joins Dennis Lockhart, head of the Fed’s Atlanta branch, who last called for more quantitative easing. Both men cited the dismal jobs outlook, and both are voting members of the
In 2011, while Michelle Obama was encouraging Americans to grow gardens to improve their health and finances, another first lady, Leila Trabelsi of Tunisia, was taking a healthy chunk out of Tunisia’s financial reserves.
Recently, on CNBC’s Squawk Box, Paul Krugman ran into some surprisingly strong skepticism about his calls for more government spending. It was clear from the onset that no one was buying into the Keynesian philosophy that infinite government spending will save us all. It wasn’t easy, but the interviewers finally managed to tie him down as to how much spending is too much.
Keynesianism has been successful beyond Keynes’ wildest dreams. Not that Keynesianism has produced a viable economic system but that belief in Keynesianism so universally accepted among Establishment economists. But, the root evils of Keynesianism–fiat money and easy credit–are proving the undoing of the world’s economy.
Fridays, Eric King interviews Dan Norcini of Jim Sinclair’s JSMineset.com and me for KingWorldNews.com’s Weekly Metals Wrap. Generally, Dan talks about the technical aspects of the market, and I comment on the action in the physicals market. My remarks are short and usually casual. In last week’s comments, I noted how the atmosphere in the