Commentary on the problem with central banking, economic masochism, the death of Greece, and the IRS cometh.

Leave the ‘supply side’ alone.

Economist -- The twilight of the central banker
THE Bank for International Settlements is known as the central bank to central banks.

 

Pdf below -- BIS 82nd Annual Report

Related.

Project Syndicate -- The Impotence of the Federal Reserve
The United States Federal Reserve’s recent announcement that it will extend its “Operation Twist” by buying an additional $267 billion of long-term Treasury bonds over the next six months - to reach a total of $667 billion this year - had virtually no impact on either interest rates or equity prices.

Stop already.

Financial Times – A manifesto for economic sense
More than four years after the financial crisis began, the world’s major advanced economies remain deeply depressed, in a scene all too reminiscent of the 1930s.

 

New York Review of Books -- Getting Away with It
In the spring of 2012 the Obama campaign decided to go after Mitt Romney’s record at Bain Capital, a private-equity firm that had specialized in taking over companies and extracting money for its investors—sometimes by promoting growth, but often at workers’ expense instead.

When a country dies.

Real Clear Politics -- Greece On Its Sickbed
This upscale suburb of Athens offers a snapshot of a country sliding toward bankruptcy. It's an ugly picture, as expectations of prosperity and stability vanish, and fear begins to take over.

You were Born in the USA, your American parents brought you to Canada when you were nine, you have never lived in the US, and at age 56 you have one big tax obligation that you have to negotiate. (ed’s note – for those of you with property in the United States, check with your accountant …)

Globe and Mail -- Flaherty pleased with IRS partial tax amnesty decision
Finance Minister Jim Flaherty said a partial U.S. tax amnesty for Americans living in Canada is a “positive” step and a testament to Ottawa’s strong working relationship with the Obama administration.

Stockton, California, to file for bankruptcy