“Fake News” Exposed: Louise Mensch Duped By Hoaxer

The woman who has been widely credited with the creation of the ‘liberal conspiracy theory’ has – finally and definitively – been proven a fraud. According to the Guardian, Louise Mensch and her writing partner Claude Taylor published ‘bogus’ allegations about President Donald Trump that had been fed to them by a hoaxer who claimed to work for New York Attorney General (and longtime Trump antagonist) Eric Schneiderman.
Mensch, a former British MP who moved to the US with her American husband a few years back to found the now-defunct Rupert Murdoch-backed conservative news website Heat Street, has garnered a large following (she has some 300,000 followers on Twitter) thanks to her ‘scoops’ about the Russia investigation. Her “exclusives” have included patently false “stories” like her claim that the FBI had issued a sealed indictment for the president. She once suggested that Russian President Vladimir Putin had Breitbart News founder Andrew Breitbart murdered to clear the way for Steve Bannon, Trump’s former chief strategist, allowing Bannon to guide Trump to electoral victory – an assertion for which she was resoundingly mocked.

This post was published at Zero Hedge on Aug 29, 2017.

Mario Draghi’s Fatal Conceit

On 23 August 2017, the president of the European Central Bank (ECB) gave a speech titled ‘Connecting research and policy making’ at the annual assembly of the winners of the Nobel Price for Economics in Lindau, Germany.1 What Mr Draghi talked about on this occasion – and especially what he didn’t talk about – was quite revealing.
Any analysis of the causes of the latest financial and economic crisis is conspicuously absent from Mr Draghi’s remarks. One gets the impression that the crisis came basically unexpected, out of the blue. There is no mention of the role of central banks, the monopoly producers of unbacked paper (or: fiat) money, played for the crisis.
No word that central banks had for many years manipulated downwards interest rates – accompanied by an excessive increase in credit and money supply – causing an unsustainable ‘boom.’ When the bust set in – triggered by the spreading of the US subprime crisis across the globe – the ugly consequences of this central bank monetary policy came to the surface.
In the bust, many governments, banks and consumers in the euro area found themselves financially overstretched. The economies of Southern Europe especially do not only suffer from malinvestment on a grand scale, they also found themselves in a situation in which they have lost their competitiveness.

This post was published at Ludwig von Mises Institute on August 30, 2017.

9 Reasons Why Trump’s Dream Of Russian Reconciliation Is Now Impossible

What was once mission difficult is now mission impossible – at least for the foreseeable future…
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Donald Trump has yet again stated that he seeks to have good or even ‘great’ relations with Russia. Speaking beside Finnish President Sauli Niinisto, Trump stated,
‘I hope that we do have good relations with Russia. I say it loud and clear, I’ve been saying it for years: I think it’s a good thing if we have great relationships, or at least good relationships with Russia.
It’s a big country, it’s a nuclear country, it’s a country that we should get along with, and I think we will eventually get along with Russia’.
In spite of Trump’s stated wishes, the policies of his administration, irrespective of who is actually authoring them, are in total opposition to Russia’s stated geo-political goals and Russia’s geo-strategic interests.

This post was published at Zero Hedge on Aug 29, 2017.