The Echo of Now
For those who might have missed the warning signs of the galloping disaster of the U.S. economy, they were right here at The Dark Wraith Forums. Over the past nearly four years, I have been laying out the broad and narrow issues that were leading to the economic catastrophe that is now evident to all but the dullest of Republicans. Some of the articles were almost entirely educational; they were written to provide readers with basic principles of economics. Other articles were a combination of education in economics principles, policy analysis, and predictions. Still other articles were, at least on the surface, purely editorial, but even those pieces were tangents from the arc of reasoning constructed by the entire body of writing I have offered: rock-solid economics principles have no business being held at bay merely to avoid noticing that politicians really are, quite objectively, as stupid as stupid gets.
The body of articles I have written and published here stands as my claim to have been far better at predicting what was to come than the vast majority of politicians, pundits, and even other economists; and, to the extent that events have proven the pessimism of my outlook accurate, the condemnation I have laid upon the Bush Administration has not been driven by ideology; instead, it has been motivated by the unbiased, unflinching application of economics free of the blinders that have been voluntarily worn for far too long by far too many of our nations leaders, media personalities, and academics, both liberal and conservative.
In the weeks and months to come, I will walk back through key principles of economics and finance, and I shall write about the severity of the current situation and what would have to be done to get this nation out of the roiling catastrophe. I shall also write about what will happen in the likely event that the political leaders and chief bureaucrats of this country, both those in office now and those who will soon take the reins of power, do other than what should be done.
No, you as a dedicated reader here will not be able to redirect this nation away from the path of tribulation to come. The situation will get worse before it does not get any better. It is out of your hands. It is out of mine, too.
Read some of the articles below, anyway; if you already have, read them again. As a point of caution, however, they will not save anyone from economic misery, nor will they offer you any personal advice to make your circumstances any better.
If you want salvation, go to church and listen to the preacher. If you want promises, turn on the television and listen to the politicians. If you want disappointment, believe what the preachers and politicians tell you. (Trust a preacher somewhat more, though; unlike our government, he's probably not treating your constitutional rights like some toy he has the right to take away.)
Once you are finished listening to the person who wants your soul and the person who wants your vote, spend time here at The Dark Wraith Forums. Here, no one is trying to get your vote; and you can be most certain no one is going to offer you salvation.
Enjoy the readings, below.
A good primer:
Seven Principles of Macroeconomics
A nice starter article:
The Structure of an Interest Rate, Part 1
A must-read piece relevant to the economics of behavior:
Rationality, Incentives, and the Agency Dilemma
A pair of articles explaining money and the cause of inflation:
A Brief Story of Money Part 1 Part 2
Some articles combining economics and finance with a strong dose of political commentary:
Prologue to the Book of Consequences
Of Crystal Balls and Yield Curves
A Bad Idea for Tax Reform
A Bad Idea Made Better for Tax Reform
A Head-Banger Primer on Tax Cuts and Job Formation
Foreign Trade and Debt
Exchange Rate Regimes
Currencies of War
The articles above are all from more than a year ago. More recent articles include the following:
The Gospel of Impending Doom
The Economics of Wreckage Part One Part Two Part Three Part Four
The Federal Reserve under Fire Part One Part Two
Finally, a few of my video lectures are worth watching:
Exchange Rates, Part 1
Exchange Rates, Part 2
Exchange Rates, Part 3
Exchange Rates, Part 4
The Dark Wraith encourages readers to stay tuned for further articles on the economics of peril, catastrophe, doom, and general misery.
Comments
Wrote kelley b:
Wrote trog69:
In the weeks and months to come, I will walk back through key principles of economics and finance...
So, all this economic upheaval is a good thing!
Considering that my income is dependent on SS and my pension fund, I may not be able to afford the internet in a few months.
I almost forgot, that Fed Res. graphic is wicked!
Wrote zipperhead:
Dear Dr. Wraith,
"Once you are finished listening to the person who wants your soul and the person who wants your vote, spend time here at The Dark Wraith Forums. Here, no one is trying to get your vote; and you can be most certain no one is going to offer you salvation."
Sir, your writing I admire. Your polemical talents I respect. Your academic mastery I envy. Your honesty is priceless. Of course, you work in education. But isn't educaton a form of salvation? Salvation from ignorance. Isn't your writing here part of your effort to "save" people from ignorance? Whatever your beliefs may be, you believe it is important for people to know truth. And you try to give such truth as you can. Like the apostle Peter, you might say: "Silver and gold I have none, but such as I have give I unto you."
But of ultimate, eternal salvation, no human can give it. But that doesn't mean there is no such thing. Jesus said eternal life is found, not in worldly education, but in knowing the One God who created the heaven's and the earth, and all of mankind. Salvation can only be found in acknowledging and honoring our Creator. No one lesser can offer it.
Will you mind if I share these lines with you and your forum?
where are we going, and what do we know?
what does it matter, and what does it show?
why are we staring at the mess we are in?
is it amazement, or only chagrin?
far from the shadows of this present charade,
the angels in heaven are in parade.
they know the final end will be something Good,
yet see down in the shadows things don't be like they should.
leave your troubles to God, high up above,
for what really matters is the depth of your love.
God i know this world isn't where i belong.
it's a place of sorrows where ya hafta be strong.
but deep down in my heart i belong somewhere else,
somewhere they love each other like as themselves.
oh, how or when or where, it doesn't matter to me.
but that distant land is something I want to see.
how long has this gone on, and how long will it be?
i only know from sin and hate i wish to be free.
-
Wrote nightshift66:
This is an extensive reading assignment, but I'm confident it will be informative.
Wrote Dark Wraith:
Good evening, zipperhead.
Although I reject the "Creative Commons" license protocol, I nevertheless hold to a similar form: with attribute that includes my online name (or "Dark Wraith Publishing) and a link to my site, anyone may quote or republish graphics and/or excerpts of my material. Given that the mainstream media avoids me for the most part (with the exception being Google News), it's the only way I can spread my gospel of doom.
To other matters about which you write, I was writing a response here in comments, but it became somewhat long and involved, so I shall instead post it as an article later this evening.
The Dark Wraith should know better than to start letting his keyboard ramble.
Wrote trog69:
Guten tag, nightshift66.
Yeah, there's a lot to read, and most all of it will be my second go 'round, but mebbe this time some of it will stick.
Wrote Minstrel Boy:
muse, make my song a song of fire that i might sing of rage. . .
Wrote nightshift66:
Buenos noches, trog69. It is largely review for me as well. Most of it echoes what I've been saying for years, but DW says it far more professionally than I can. The fact that we cannot forever spend more than we have should be obvious, and perhaps it is obvious. However, no politician wants to be the one who prescribes pain to a public that so clearly has no tolerance for discomfort of any sort. So they all kick the can further down the road, knowing that their actions only make the inevitable final payment that much worse, because it'll then be someone else's problem. I had thought that GWB would be the one to lose this game of musical chairs, but it seems it may be the next administration instead.
Wrote Moody Blue:
Good afternoon, Wraith.
Thank you for this post, and for linking again to those readings and videos. I often scroll through your sidebar to re-read past posts, and bookmarking this particular post will definitely help me access and refer back those really important ones.
(Note to self: Check on-hand coffee supply. Purchase back-up coffee maker.)
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Your host of this Weblog is an award-winning college teacher and writer who specializes in economics, finance, mathematics, business administration, computer hardware and software skills, and English grammar and composition. His extensive writings on the history of the English language appeared on About.com in the avatar of the Selig Wraith in the 
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Good morning, Dark Wraith
I've said it elsewhere: but I'll repeat it here, being interested in your (predictable but enlightening) response:
It feels like 9-11 all over again.
Taste the Terra, kids. Hand the money over, or else.