Blog Archives

Fed ‘Profits’ Would Have Blown Ponzi Away

There was good news yesterday for taxpayers, sort of: the Federal Reserve turned $76.9 billion in 2011 profits over to the U.S. Treasury. The not so good news is that it amounts to a meager 2.6% return on the Fed’s $2.9 trillion portfolio. That may be better than George Soros and John Paulson did last…

Man Caged Over Chalking Sidewalk

Lyons told Ademo that because he used non-toxic children’s chalk on public property he owed “the state” 200-FRNs plus a 48-FRN “penalty assessment.” And, because he went limp when he was unjustly arrested he is to spend 12-months in a cage, with 10-months stayed (as a concurrent sentence), so long as he had “good behavior”…

Hyperinflation Comes To Iran

An EA source reports that a relative in Tehran ordered a washing machine for 400,000 Toman (about $240) this week. When he went to the shop the next day, he was told that — amidst the currency crisis and rising import costs — the price was now 800,000 Toman (about $480). Another EA source says…