Chapter 7: Secrets, Ignorance and Lies: Money, Credit and Debt.
by“The tyranny of fraud is not less oppressive than that of force.” John Taylor of Caroline, Virginia (1814). Our money system relies on…
How Asset Inflation Will End — This Time
byLife after death for asset inflation: this is what happens when “speculative fever” remains high even after monetary inflation has paused. This may well…
Can expansionary fiscal and monetary policies counter recessions?
byWhen signs of economic weakness emerge, most economics experts are quick to embrace the ideas of John Maynard Keynes. For most economists…
China in transition – From manufacturer to consumer
byChina is evolving from a current account surplus to deficit country Increased domestic consumption and dis-saving by an ageing population drives the trend…
What the shape of the yield spread implies?
byA fall in the difference between the yield on the 10-year US T-Bond and the US 3-month Treasury bill into negative territory has…
In Defence of Free Markets
byWhy is it that no one defends free markets, and socialism, despite all the evidence of its failures, comes back again and again? Unsurprisingly,…
Being and Time (and central banks)
byPeople value present goods more highly than future goods. For instance, an apple available today is considered more valuable than the same apple available…
The problem with Modern Monetary Theory
byAccording to the Modern Money Theory (MMT), money is a thing that the State decides upon. Following the ideas of the German economist, Georg…
Chapter 6: America, Won and Lost.
byAfter the United States gained its independence from Britain, it became powerful in the world in two very different ways: as an idea,…
The Global Economy Desperately Needs Freedom
byHow many bureaucrats are there in the world? The global population currently numbers more than 7.5 billion people. Out of that number it is…