Each new dollar of debt was accompanied by a net reduction in GDP. In fact, at year-end, each new dollar of debt subtracted 45 cents from GDP (source: U.S. Treasury Z1 Flow of Funds report, 3/11/10). Remember this the next time you hear some economist claiming that Uncle Sam should run even larger deficits to “stimulate” the economy.
Post Tagged with: "inflation"
May 11, 2010 18:55
Gold hits all-time high as investors seek haven
Gold prices hit an all-time high as demand surged to the highest level since the collapse of Lehman Brothers in 2008 amid volatile financial markets in Europe. Spot gold in London surged to above $1,230 a troy ounce, surpassing the previous record set in December last year.
February 4, 2010 06:39
The Green Con Job – higher ‘green’ energy costs = job losses
In light of the U.S. economy’s historic sensitivity to high energy prices, an aggressive push toward green power would likely result in the net loss of millions of jobs.
