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We’ve written for some time about what a waste of space the Federal government.
How it just sucks the life out of the private sector in order to fill the pockets of interfering and power-crazed bureaucrats.
Yet we’ve been told by all and sundry that a strong government is important, nay, crucial for the stability of both the economy and society. Without it, the argument goes, there would be anarchy in the streets.
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Having read through US Federal Reserve chairman Ben Bernanke’s speech at Jackson Hole, Wyoming over the weekend we can only come to two conclusions.
Either Mr. Bernanke is stark raving mad and should be sent to a nut farm immediately. Or, he should be carted off to The Hague to face charges of crimes against humanity.
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Your editor spent most of yesterday polishing off the August issue of Australian Small-Cap Investigator. Today we’ve just a few small bells and whistles to add to it, before we should have it delivered to subscribers after 4.10pm this afternoon.
If you’re not a subscriber yet, then why not take a few moments to read how you too can become what I like to call a Disaster Profiteer…
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Much as we suspected in yesterday’s Money Morning, we’ve already seen the first stages of the institutionalisation of blatant money printing.
And not surprisingly it came from the market drones and Federal Reserve cheerleaders at CNBC.
Your editor wasn’t quick enough with the notepad and pen to jot down exactly what ‘Squawk on the Street’ host Erin Burnett said, but it went something like this:
“The Fed hasn’t actually increased the size of its balance sheet, it’s just going to keep it at the same level.”
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We look at the market this morning, and what do we see?
Oh mamma, we see trouble a-brewing!
Quite frankly we don’t get why others can’t see the same problems.
To us it seems obvious. But anyway, seeing as no-one else is game to show you, if we’ve got space today we’ll reveal all. If not, we’ll hold the rest of it over until tomorrow…
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| S&p/asx 200 | 4541.20 | ||
| Nzx 50 Index Gros | 3107.43 | ||
| DJIA | 10320.10 | ||
| NASDAQ | 2200.01 | ||
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