Hennessy's View

Domine, non sum dignus

3 Signs of Economic Disaster

Each day, more economists jump onto the Double-Dip bandwagon. Signs abound that the natural economic recovery that would normally follow a deep recession won’t happen. Instead, the economy is now saddled with so much debt, so many regulations, and such onerous new taxes that the Obama Administration tells us to be happy with 9.5 percent unemployment. Barack Obama is an economic disaster of the first order. So why all the pessimism? Read more →

The Other Shoe Drops

For months I’ve been echoing the warnings of Peter Schiff and others: when China stops buying American debt, we’re in deep, deep trouble. The possibility for hyperflation, prices rise by double-digits on daily or weekly measures, becomes palpably high. Even though this article from IHT failed to suprised me, I have a sick, frightened gnawing in my stomach: China has bought more than $1 trillion in American debt, but as the global downturn has intensified, Beijing is starting to keep more of its money at home - a shift that could pose some challenges to the U. Read more →