Every time we hear government officials announce their big spending plans, their new welfare programs and their ambitious “job creating” schemes, they always present them as being in defense of the poorest and the most marginalized [more…]
Well, currency debasement is pretty bad, as a few key statistics will reveal, but first some background. At the Bretton Woods Conference in 1944 the US agreed that it would redeem dollars for gold at [more…]
What almost everyone calls “inflation” is really a rise in the general price level. OK. But the real definition of “inflation” is inflation of the money supply. A rise in the general price level is [more…]
As regular non-readers of the comments will know, I spent a large part of 2020 (and some of 2019) looking for a job. Looking back at my spreadsheet I made approaching 60 applications, albeit quite [more…]
In Lewis Carroll’s “Through the Looking-Glass” Humpty Dumpty tells Alice: “When I use a word it means just what I choose it to mean—neither more nor less.” Humpty’s subjective approach to verbal meanings is of [more…]
Any catalogue of economic legends would of course include the 2008 visit of Queen Elizabeth to the London School of Economics, when the country was experiencing an unprecedented housing market bubble based on the irrational [more…]
Over the second half of January, we witnessed a fresh wave of volatility in equity markets, culminating in a pullback that caused widespread concern and endless headlines in the mainstream financial press. There was speculation [more…]
With prices increasing rapidly across a wide range of materials, goods and products, especially basics like foodstuffs and energy, it is astonishing that what citizens now encounter every day is so persistently, and perversely, denied [more…]
After months of outright denials and fiery persistence that inflation is not a problem and never will be, central bankers in the US, the EU and other advanced economies are now being forced to face [more…]
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