The Deflation/Inflation Debate
“Naïve inflationism demands an increase in the quantity of money without suspecting that this will diminish the purchasing power of the money.” ― Ludwig von…
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Trade wars
An overt trade war has commenced. President Trump has fired the starting gun, setting in motion an election promise, part of his Make America…
Read MoreCurrency exchange value dynamics
In a recent article I postulated that the dollar could lose all its purchasing power with a rapidity that will come as an unpleasant…
Read MoreA Roman lesson on inflation
“While it is the duty of the citizen to support the state, it is not the duty of the state to support the citizen” –…
Read MoreWhen will the next credit crisis occur?
The timing of any credit crisis is set by the rate at which the credit cycle progresses. People don’t think in terms of the…
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The truth about trade
The one subject, which became a headline issue last year, and even divides experts is trade. It will become increasingly important in 2018 as…
Read MoreInflation v Deflation – State Finances
There is a general belief, and that is all it is, that state finances fare better in an inflationary environment than a deflationary one….
Read MoreDeflation must be embraced
There are two problems with understanding deflation: it is ill defined, and it has a bad name. This article puts deflation into its proper…
Read MoreWill macro-economists ever learn?
As we lurch through successive credit crises, central bankers and economists believe they learn valuable lessons every time, and that the ultimate prize, the…
Read MoreCryptos may destabilise fiat
The assumption in some quarters is that crypto-currencies will replace gold as money, or at least challenge it. This is an error borne out…
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