Gotta love those inflationists! We enjoy getting in their faces now and then because their nutty ideas, particularly that inflation is worth worrying about at the moment, can only confuse and misdirect people who are struggling to sort out the facts for themselves. Imagine waiting…and waiting…and waiting for inflation to “break out,” as the inflationists have been doing all too patiently since 1991. That’s when the Fed put pedal to the metal to escape the drag of recession. At the time, virtually every monetarist in the land was predicting that a nasty inflationary spiral lay just ahead. All we got in the end was the kind of inflation that no one noticed, let alone complained about: asset inflation. Greenspan sealed his reputation as a bubblehead forever by finally noticing the bubble, although, to » Read the full article
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Comic Relief from Bonnie-and-Clyde Wannabees
by Rick Ackerman on August 11, 2011 8:49 am GMT · 43 comments
Comic relief came yesterday in the novel form of a Colorado shootout that put the until-recently-unheard-of Dougherty Gang behind bars and left gun-moll and self-styled redneck stripper Lee-Gracey Dougherty with an exit wound in her leg. Only in America, as they say. As we went to press early Thursday morning following an all-day outage of Rick’s Picks (and a thousand other web sites served by a Dallas data center that was hit by a power blackout), the Bonnie-and-Clyde wannabees were still the top story on Google news, proving that timing is everything if you want to be an overnight sensation. » Read the full article