The Sovereign Debt Disaster - By Egon von Greyerz (25/2/10) PDF Print E-mail
Egon von Greyerz   
Thursday, 25 February 2010 08:08

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Inflation As The Enemy Of Investing - By Doug French (25/2/10) PDF Print E-mail
Doug French   
Thursday, 25 February 2010 08:04

Mises Daily

In this age of inflation, we are all forced to do many tasks that others could do better for us. The fact is that inflation impedes the process of civilization, which is brought about by the division of labor. While, without the central bank's continual monetary infusions, prices would gently fall as technology made all things and all people more efficient, we don't enjoy that luxury. Instead we're mowing our own grass, fixing the flappers in our toilet tanks, and managing our own retirement funds.

Now, pushing a mower requires little skill, is no more than an annoyance, and provides the benefits of fresh air and sunshine. But managing one's retirement funds is a different matter entirely. It is an especially cruel result of inflation that instead of simply being able to hoard money, people must "invest their money into the financial markets, lest its purchasing power evaporate under their noses," explains Jörg Guido Hülsmann in The Ethics of Money Production. "Thus they become dependent on intermediaries and on the vagaries of stock and bond pricing." And unfortunately most of us aren't neurologically wired well for the job.



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Secret AIG Document Shows Goldman Sachs Minted Most Toxic CDOs - By Richard Teitelbaum (24/2/10) PDF Print E-mail
Richard Teitelbaum   
Wednesday, 24 February 2010 09:16

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Armageddon - By Martin D.Weiss (24/2/10) PDF Print E-mail
Martin D.Weiss   
Wednesday, 24 February 2010 08:09

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Harvard’s Rogoff Sees 'Bunch' Of Sovereign Defaults - By Aki Ito (24/2/10) PDF Print E-mail
Aki Ito   
Wednesday, 24 February 2010 08:06

Bloomberg

Ballooning public debt is likely to force several countries to default and the U.S. to slash spending, according to Harvard University Professor Kenneth Rogoff, who in 2008 predicted the failure of big U.S. banks.

Following banking crises, “we usually see a bunch of sovereign defaults, say in a few years. I predict we will again,” Rogoff, a former chief economist at the International Monetary Fund, said at a forum in Tokyo today.

He said financial markets will eventually drive bond yields higher, and European countries such as Greece and Portugal will “have a lot of troubles.” Global scrutiny of sovereign debt has risen as nations including Greece reveal fiscal deficits that have swollen in the wake of the worst global financial crisis since the Great Depression.



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