As ZeroHedges notes, a recent report from Bank of America’s Barnaby Martin indicates that the banking industry seems to be waking up to the very real risk posed by the Federal government’s continued fiscal recklessness.

Martin notes that recently:

One of my favorite sports events of the year has always been the NFL Draft, a love that only has deepened with my appreciation of economics. One of the big story lines going into tonight’s draft is how Cleveland will take advantage of the impressive bounty of draft picks they have amassed over the last few years, which includes five picks in the first two rounds (1, 4, 33, 35, and 52.)

One of the pieces of legislation Ron Paul pushed while leading the Congressional committee overseeing monetary policy was a bill to audit the US gold reserves. As one may expect when dealing with the Fed, there has long been a general lack of transparency with America’s gold holdings. In fact, last year was the first time in over four decades that any member of Congress had been allowed inspect Fort Knox. 

David Stockman brought some sanity to Fox Business’s Mornings with Maria earlier today. He blasted the hypocrisy of both parties on spending, warned of the dangers of rising bond yields, and called out the absurdity of US foreign policy.

[Excerpt from Gerard Casey, Libertarian Anarchy Against the State, chap. 6: Deligitimizing the State.]

One of the cornerstones of the science of economics in its post-marginalist-revolution period is the realization that the necessity of ‘economizing’ – i.e., maximizing individual desire satisfaction whilst minimizing the exploitation of productive resources – stems from the fact that the said resources are not sufficient to satisfy all of the desires entertained by the totality of purposive agents (Menger 1976; Mises 1996, p. 93; Rothbard 2004, pp. 5-6).

Naïve inflationism demands an increase in the quantity of money without suspecting that this will diminish the purchasing power of the money.”

~ Ludwig von Mises, The Theory of Money and Credit

It is hardly surprising that with equity indices stalling, the financial community is increasingly worried that the long, steady bull market is coming to an end. Naturally, this makes investors look for reasons to worry, and it turns out that there are indeed many things to worry about.