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Grubergate

It’s kind of surprising that this YouTube compilation of MIT economist and Obamacare/ Romneycare Architect Jonathan Gruber material has less than 50,000 views.

Also see Stephen Colbert’s take on the subject here from last week.

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Why Bretton Woods Ended

… or at least one of the major reasons why the “gold-backed U.S. dollar” post-World War II monetary system met with a speedy demise in 1971 after the U.S. government embarked on a “guns and butter” spending spree back in the 1960s.

Courtesy of Nick Laird at Sharelynx who once again has managed to produce a chart that says more than words could ever say about the evolving global monetary system that, lately, appears to be getting a little unstable.

The Japanese are Turning Japanese

In case you hadn’t heard about Japan’s horrific third quarter GDP numbers, the chart below via this BBC report should aid in understanding why the financial world is again baffled by the failure of central bank largess to impact the real economy in the desired fashion.

Analysts were expecting a growth rate of +2 percent and what they got was -2 percent, surprisingly fitting the widely accepted definition of a recession (two consecutive quarters of contraction). This sort of thing seems to happen a lot in Japan.

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How the Sausage is Made (and Sold)

This little ditty by MIT economist Jonathan Gruber, one of the main “architects” of the Affordable Care Act (more affectionately known as “Obamacare”) has been making the rounds over the last day or so and for good reason.

It would seem that the most disturbing thing about this is that he’s got a little gleam in his eyes, as if he’s proud of what could be accomplished through this deception.

There’s much more on this here and here as, for obvious reasons, right-leaning and libertarian minded folks are having a field day with it.

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