Zero Hedge take on Hayek

http://www.zerohedge.com/news/2012-10-11/we-are-road-serfdom "this will end badly" Btw, I recommend reading "The Lords of Finance"

Brownshirts

Just witnessed the TSA marching in the austin airport concourse. I find it sickening:  teaching the brown-shirts to march. 

The Scary Math Behind The Mechanics Of QE3, And Why Bernanke's Hands May Be Tied | ZeroHedge

I know what you're thinking:  I should be more careful and take my meds as prescribed...  It isn't just that each successive round of money printing has less of a psychological effect on the market.  It is that the Fed is running out of bonds to monetize.  Wow.

The Scary Math Behind The Mechanics Of QE3, And Why Bernanke's Hands May Be Tied | ZeroHedge

Santelli: Where Did Scotty Beam All the Unemployed?

Santelli: Where Did Scotty Beam All the Unemployed?

Thought you all might enjoy this.  By the way, I'm readying Currency Wars.  Intro and analysis of first two of three world currency wars are riveting.  Loses its way a bit toward the end.  But, very illuminating.  I have been calling it a race to the bottom with currency devaluations.  I think currency wars are a better description.  



http://www.amazon.com/Currency-Wars-Making-Global-Crisis/dp/1591845564/ref=sr_1_1?ie=UTF8&qid=1347046427&sr=8-1&keywords=currency+wars

Bernanke to Congress: We're Much Closer to Total Destruction Than You Think - CNBC

Bernanke to Congress: We're Much Closer to Total Destruction Than You Think - CNBC

I think the Fed has been trying to avoid deflation from the beginning.  It seems they have taken action based on a greater fear of deflation than of hyper-inflation.  It is a hard course to steer (this metaphor is particularly apt because like steering a boat you can steer all you like but the sea and wind may take you in a different direction).  I suspect they will continue to take action that errs on the side of inflation.  If that is wrong (they steer a middle course and are blown off course toward deflation) gold is the absolute wrong place to be.  

I am betting on inflation.  If things go toward deflation I suspect it will be better to own guns...

Santelli: Libor, Rigging Rates & the Law

Father of the Tea Party speaks.  I wish this guy would run for office.

Santelli: Libor, Rigging Rates & the Law

Austrian school goes on the offensive

Fantastic!!! http://www.zerohedge.com/news/ultimate-krugman-take-down