But what does it mean?
“Risk is what’s left over when you think you’ve thought of everything.” – Carl Richards. By the time this financial crisis is over, a…
Read MoreAugust, 2015
Welcome to the world of ZIRP zombies
Interest rates in the US, Europe and the UK were reduced to close to zero in the wake of the Lehman crisis nearly seven…
Read MoreGreece crisis proves the need for a currency Plan B
The recent Greek capitulation under pressure from other euro member countries, led by Germany, demonstrates that euro members have de factoceded sovereignty over fiscal policy to…
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John Stuart Mill And The Dangers From Unrestrained Government
Source: http://www.epictimes.com/richardebeling/2015/08/john-stuart-mill-and-the-dangers-from-unrestrained-government/ One of the great voices for personal liberty was that of the British economist and political philosopher, John Stuart Mill. His essay,…
Read MoreThe Economy is in Liquidation Mode
If you’re an American over a certain age, you remember roller skating rinks (I have no idea if it caught on in other countries)….
Read MoreYield Purchasing Power: $100M Today Matches $100K in 1979
I wrote a story about poor Clarence who retired in 1979, and even poorer Larry who retired last year. I created these characters to…
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Economic bust and stable price levels
The yearly rate of growth of the personal consumption expenditure (PCE) price index adjusted for food and energy stood at 1.3% in June –…
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Gibson’s paradox: the consequences
We now have an explanation for Gibson’s paradox (posted here), a puzzle that has defeated mainstream economists from Fisher to Keynes and Friedman. The…
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Eugen von Böhm-Bawerk: That 70s Show – episode 1
From Eugen von Böhm-Bawerk’s blog. Source: http://bawerk.net/2015/08/05/that-70s-show-episode-1/ In several articles we have shown how the world changed from the 1970s with the breakdown of the old…
Read MoreStill dancing?
“Bubbles are the only things that matter. The rest of it is boring. You show up for work, markets are at normal levels, and…
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