Great forces are in place to change the world in which we have lived since the end of the Bretton Woods Agreement in 1971. These forces cannot be stopped. The leaders of Western democracies are [more…]
Conventional wisdom has it that prior to the Japanese attack on Pearl Harbour the USA was sitting pretty and ignoring what was going on in the world. To an isolationist American public this was exactly [more…]
We are all aware daily of our ongoing “conflict” with our new chief “adversary” in the world, the Chinese Communist Party. Warnings about the need to increase defense spending to prepare for possible war with [more…]
Since the Bretton Woods Agreement in 1944 the dollar has been the world’s preferred reserve currency; i.e., the major trading nations of the world were willing to hold dollars in vast amounts to satisfy their [more…]
If this kind of theoretical reasoning seems too abstract, let us think about it more practically: Any public servant, any member of government, and even the leader of a nation, has very different motivations than [more…]
For decades already, one of the most popular and commonly employed attacks of Keynesians and other left-leaning economists was the one against the idea of “trickle down economics”. They ridiculed the notion that a rising [more…]
A good start Whatever one might think about which currency is better suited to be used in trade or as a benchmark or as a central bank reserve, the fact remains that the USD’s days [more…]
Endless ink has been spilled by economists and financial analysts in their efforts to predict the impact of de-dollarization. As might be expected, most of those who embrace a US-centric view of the world and [more…]
Last Tuesday, June 20th the Pennsylvania House of Representatives passed a bill to raise the Commonwealth’s minimum wage to $15 per hour by 2026. Although the bill is unlikely to pass the Senate, it seems [more…]
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