Benn Steil: What If Japan Becomes Treasury’s First Currency ‘Manipulator’ in 22 Years?
byIn May, Japanese Finance Minister Taro Aso and colleagues warned of their willingness to intervene in currency markets to counteract upward pressure on the…
Head of the Snake – The Poisonous Gap Between Paper Wealth and Real Wealth
byBy John P. Hussman, Ph.D. “Understand that securities are not net economic wealth. They are a claim of one party in the economy – by…
Off Target
byMoney, generally accepted medium of exchange, acts as a veil that confuse and blurs economic relations. This is especially true when it comes to…
A Plan to Engender Prosperity in Perfidious Albion – from Pariah to Paragon
by“The state is that great fiction by which everyone tries to live at the expense of everyone else.” “When goods do not cross borders,…
Positively Natural – Pt IV
byTOMORROW, AND TOMORROW, AND TOMORROW So, one last time, let us lay out the argument developed above in the hope of eliminating all obscurity,…
Positively Natural – Pt III
byNO REMEDY IN THIS CONSUMPTION OF THE PURSE But the sort of reasoning we developed in the last of this series is alien to…
Positively Natural – Pt II
byTHE NET THAT SHALL ENMESH THEM ALL Now, the foregoing may be all well and good, but it is also the case that any…
BREXIT and Economic Growth – is there any link?
byOn Thursday June 23 2016 the people of Britain voted in a referendum to leave the European Union (EU). Most commentators view Britain’s exit…
Positively Natural – Pt I
byTHE CASE FOR POSITIVE INTEREST An Austrian rebuttal of Summers et al, in four parts THE TIME IS OUT OF JOINT Over the years,…
Durable Goods Add To The Idea of Depression (Small ‘d’)
byThere wasn’t anything new or surprising in the advance durable goods report. Shipments (ex transportation) were flat and orders were up 1% year-over-year (NSA)….