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June 2011

Job Creation: Why There’s None; What Should be Done

It is clear to everyone that the economic vitality of the U.S. is based on jobs.  Since its peak in late ’07, the U.S. has lost between 6.8 and 7.0 million jobs (depending on which employment survey you consult).  Despite record deficits, spending, various stimulus schemes, and money printing programs, jobs are not being created at a pace that results in a falling unemployment rate.  And, there is a lot …Read More

Bernanke: Failure, or Just Delusional?

In his June 7th speech, Fed Chairman Ben Bernanke stated, “the best way for the Federal Reserve to support the fundamental value of the dollar in the medium term is to pursue our dual mandate of maximum employment and price stability, and we will certainly do that.“. It is instructive to take a look at the actual Federal Reserve goals, as well Bernanke’s results in pursuing those goals. Goals of …Read More

Two Soft Patch Views

There are two views on the softening economic data that began in April and has continued unabated.  The majority view is that the U.S. (and world) is in a “soft patch”, similar to the one that occurred last summer.  The disasters in Japan have caused supply chain disruptions which are blamed, along with $4/gallon gasoline, for the economic slowdown.  The view is, now that the supply disruptions are ending and …Read More

The Concept of Inflation as a Measure of Standard of Living

There is a debate in financial circles as to whether or not we even have inflation, and, if we do, should we even worry about it.  As expected, the chief monetary and fiscal officers of the federal government deny that inflation is a problem or that their policies have anything to do with it.  This was reaffirmed by Chairman Bernanke in his talk to The International Monetary Conference on June …Read More