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Morocco Bama

""""This has sent bond yields higher, not lower, by leading investors to expect more growth and inflation and to fret more about budget deficits.""""

Exactly who are these investors to whom they refer? As you mentioned, most shrewd investors are prepared to cut their losses and run for the doors in the not too distant future, but let's face it, the lion's share of investment these days is controlled and manipulated by Wall Street, and Wall Street is dictating Government policy, hence they are directly responsible for the deficits and inflation to come because they set it in motion, and I don't think it's any longer appropriate to play the incompetence card when explaining this seeming enigma.

No, all of this voodoo is to defer that inevitable thump at the end of the fall of the U.S. economy.......but til when? How long can the inevitable be deferred? That's really the big question. I know Bernanke and Company know the score, they're just buying time and extracting as much as possible until the host is bled completely dry and the exit plan is in place and fully operational, and the rest of us are left holding a stinking bag of radioactive dog shit.

Off with their heads, indeed!!!

T E Cho

Very well said, there is no big picture - long term mentality amongst the rulers.

'When the leaders have no vision, the people perish'.

Chris in Chicago

Is this the same David Stockman who engineered Reagans trickle down economics?

Wow,didnt he change his tune

Isnt it interesting how people who were involved with politics or government speak more truthfull and honestly after there out and retired with nothing to loose?

Julian Colander

This has been a fascinating three years. I still don't know whether there is any sort of plan behind this, or if it's simply a case of the entire world and its leaders being in thrall to a single, dubious idea originated by Adam Smith. If I had to bet it would be the latter, and that faith in the invisible hand is so strong that people have no doubt that it can withstand any amount of Keynsianism and all the other distorting 'stimuli' - which are merely seen as correctives to other distortions, not admissions that there is anything fundamentally wrong with the idea.

Only something like a Wikileak of the most influential people's communications could shed any light on it. In the recent Wikileaks cables I saw a briefing about the state of the UK economy given to Hilary Clinton, which simply regurgitated the 'official' growth and GDP stats. This suggested, to me, that top politicians are as ignorant of the true state of the economy as the rest of us. I hear that Wikileaks is planning to release a load of stuff concerning a large US bank in January. That could be fascinating, but even that may not necessarily be the 'smoking gun' we imagine.

Morocco Bama

That could be fascinating, but even that may not necessarily be the 'smoking gun' we imagine.

Wikileaks is a psyops. If it were not, Assange would have been six feet under and no one besides his friends and family would have known he ever existed. The corporate owned and run media has given incredible public relations to Wikileaks, and had it not, hardly anyone would have known about it. Why would the Corporate State, via its propagandistic mouthpiece media, give light of day to such dull and already known incrimination?

The Smoking Gun is that there is no Smoking Gun. The structure is so effective that the masses control each other with minimal effort by The Plutocratic Oligarchy.

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