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world war 1

Rough End of a Collateral Century

By |2017-07-28T13:24:35-04:00July 28th, 2017|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The entry of the United States into World War I placed a heavy financial burden on the government. The scale of such encumbrance was at the time almost unthinkable, and today is incomprehensible. Federal government expenditures in 1916 were all of $734 million, with $125 million financed by the new income tax authorized a few years prior by the 16th [...]

What Comes Next; Part 2, The Looming Transformation

By |2015-06-12T14:38:49-04:00June 12th, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

Part 1 is here, the history of defining systemic operation since 1907. The quest over equality or the “right” to impose optimal outcomes is one that cannot go backward. The inevitable failures lead no duty to re-assess overall, but only the means by which the results are to be commanded. That was the essence of Triffin’s Paradox, which was only [...]

What Comes Next; Part 1, Useful History of the 20th Century

By |2015-06-12T14:40:11-04:00June 12th, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

Value as a foundation seems almost too literal to be an economic or financial concept, but it is perhaps the bedrock association that makes the economic system. We are used to aspects like profits and money, even inflation, but those are all symptoms of the ever-changing world surrounding value. Karl Marx understood very well how deeply embedded value was even [...]

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