From Bloomberg.com we get the bad news that “Bank of England Governor Mervyn King said inflation is likely to exceed the UK government's upper 3% limit in coming months as higher sales taxes drive gains in consumer prices,� which “rose 3.1% in July from a year earlier after climbing 3.2% in June.�
[Read more...]Monetary Madness
August 27, 2010 By Leave a Comment
For some reason, everyone is taken aback because, as James Mackintosh at The Financial Times puts it, “Stanley Druckenmiller, one of the masters of the investment world, this week announced his retirement saying that he had become frustrated over the past three years with his inability to make outsized returns,� which makes me laugh my Huge Mogambo Butt (HMB) off at Mr. Druckenmiller, and laugh at hedge funds everywhere because, as Mr. Mackintosh reports, “the average macro fund had lost 1.2 per cent, after small gains last year, according to Hedge Fund Research. By contrast, global equities are down 5 per cent since January.�
[Read more...]Appetite for Commodities
July 2, 2010 By Leave a Comment
I am always worried that I am not ready for something, like “Do I have enough ammo to hold off a horde of desperate people storming the Excellent Mogambo Bunker (EMB)?� which I soon realized was a stupid question since there is no “correct� answer; it all depends on when the crowd of angry, starving people, destroyed by the Federal Reserve creating so much money and the government borrowing it and spending it, decides, “We better not rush the bunker and try to get all his gold and silver because The Fabulous Mogambo (TFM) will shoot us and kill us, and then shoot at the people who come to take our bullet-riddled bodies away, and then kill them, too!�
[Read more...]Debasing the Dollar and Yellen About a Fed Policy
April 16, 2010 By Leave a Comment
To show you how prescient I am, I had earlier written a column about how I was horrified at the thought that Janet Yellen – currently running the San Francisco, California, Fed Bank into the ground – would become vice-chairman of the Federal Reserve, mostly because I am repelled by her ridiculous brand of economics, an opinion borne out by how she has been consistently wrong all these years until, well, just look around you. And at California!
[Read more...]Government Stimulates Private Economy With Thin Air
February 24, 2010 By Leave a Comment
Rep. Ron Paul is a Representative from Texas who I mistakenly called a Senator in a previous Mogambo Guru newsletter, which I understand is kind of an insult, and for which I apologize to Rep. Paul. The point being not that I am old and get confused, or that my editor is not catching those kinds of errors just because he doesn’t read it anymore because he is apparently sick and tired of reading my Stupid Mogambo Crap (SMC).
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How Gold-As-Money Can Prevent Mob Rule
Ellen Kelleher, writing for The Financial Times, opens her article with how Baird & Co., in their warehouses in London, purify gold by heating it to molten form to make “medallions, bars, and rings,� which sounds like a lot of heavy, hot, back-breaking, dangerous work to me, as if the word “work� was not bad enough by itself with the terrifying adjectives.
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