Some Hope Amidst The Countdown

By |2017-12-06T18:05:54+00:00December 6th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In October, YouGov partnered with the Victims of Communism Memorial Foundation to conduct the latter’s annual poll on US attitudes towards socialism. There was, as usual, some good and bad news contained within the results. The number of overall Americans who believe communism was and is still a problem, for example, rose 5 points to [...]

Financialism, Not Capitalism

By |2016-12-19T12:50:11+00:00December 19th, 2016|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Thirty-nine delegates signed the United States Constitution in September 1787, but three refused to. George Mason, Edmund Randolph, and Elbridge Gerry were against the final draft of the document, Gerry included even though he had chaired the committee that had produced the Great Compromise. Campaigning in his native Massachusetts, the former Revolutionary who had previously [...]

Where Do We Begin? No More Targets

By |2016-11-02T18:11:42+00:00November 2nd, 2016|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In the seventeenth episode of the second season of the Comedy Central cartoon South Park, the show introduces one of its longest lasting memes that has survived despite the first airing being nearly twenty years ago, and all the vulgarity and seemingly gratuitous violence in between. Titled Gnomes, we find one of the main character’s [...]

Where Do We Begin? Thinking Seriously About Convertibilty

By |2016-11-01T18:39:55+00:00November 1st, 2016|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Throughout Milton Friedman’s (and Anna Schwartz) seminal book A Monetary History he tries to make the case that suspension of convertibility would have alleviated much of the suffering of the Great Depression. It had in the past worked in that sort of capacity, choking off the suffering of systemic runs just enough so that emotion [...]

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

By |2015-06-12T14:40:11+00:00June 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 [...]

Rather Than All Efforts Aimed At Making Central Banks More Efficient

By |2015-05-27T16:35:01+00:00May 27th, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

Leave it to a self-described socialist to undermine his own argument. Decrying the apparent overabundance of personal hygiene and fashion, presidential candidate Bernie Sanders took to confounding as to how many ways evil capitalism could produce odor-altering products but leave so many so hungry. You don't necessarily need a choice of 23 underarm spray deodorants [...]

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