I have been very frustrated by the site behavior at Mises.org.
It is perhaps the best site on the web as a result of its enormous content. Unfortunately, I can no longer post on this site because of the inability to cut and paste from my site. It is not practical for me to re-write my content in order to submit it to Mises.org.
I have no idea what has changed, but am unable to get any response from the webmaster or anyone else. If things are ever corrected, I will post here again.
I want to thank those who followed my posts and communicated via comments or direct emails. In the meantime, I intend to post to my own site only at www.economicnoise.com
If anyone has a solution to this problem which developed about a month or so ago, I would be pleased to hear from you.
Monty Pelerin at montypelerin@gmail.com
Save Yourself and Your Family -- Read This
By Monty Pelerin, posted May 2nd, 2010 http://www.economicnoise.com/2010/05/02/save-yourself-and-your-family-read-this/
Sovereign defaults are coming. They are mathematically impossible to avoid as was discussed in The Continuing Spiral to Bankruptcy and Welfare States R.I.P.
For individuals and/or investors, this piece may contain the most important information available for protecting yourself and your family. Please read it carefully, several times if necessary to fully digest what is coming down the road. Your future is about to profoundly change!
The following deals with projections by the Bank of International Settlements (BIS). This bank is no ordinary bank or market forecaster. It is the central banks’ central bank. BIS is headquartered in Basel, Switzerland and was formed in 1930. For an understanding of its role, see Investopedia.
The following excerpt if from John Mauldin’s weekly newsletter. It is free and an extremely insightful and valuable analysis of markets and political trends. You can subscribe to this E-letter by clicking on the following link: http://www.frontlinethoughts.com/subscribe.asp
Here is John’s informed take on the BIS analysis:
The Future of Public Debt
For the rest of this letter, and probably next week as well, we are going to look at a paper from the Bank of International Settlements, often thought of as the central bankers’ central bank. This paper was written by Stephen G. Cecchetti, M. S. Mohanty, and Fabrizio Zampolli. ( http://www.bis.org/publ/work300.pdf?noframes=1)
The paper looks at fiscal policy in a number of countries and, when combined with the implications of age-related spending (public pensions and health care), determines where levels of debt in terms of GDP are going. The authors don’t mince words. They write at the beginning:
“Our projections of public debt ratios lead us to conclude that the path pursued by fiscal authorities in a number of industrial countries is unsustainable. Drastic measures are necessary to check the rapid growth of current and future liabilities of governments and reduce their adverse consequences for long-term growth and monetary stability.”
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