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The latest piece of deep thought from iTulip’s Eric Janszen explains why, if the recession is over, so many people remain in such bad shape. More specifically, how can U.S. GDP be up by a robust 5% when oil imports and rail traffic are down and unemployment is still rising? The answer, in a nutshell, [...]

Hyperinflation History: The Continental

January 29, 2010

The Framers of the Constitution had clear ideas about what was and was not money. As they put it in Article 1, Section 10, “No state shall…coin money; emit bills of credit; make any thing but gold and silver coin a tender in payment of debts…”. This belief that a sound country required a sound [...]

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What Does Japan’s Implosion Mean For the Rest of Us?

January 26, 2010

Standard & Poor’s is threatening to cut Japan’s credit rating, which doesn’t sound like that big a deal in a world where no one’s credit is quite what it used to be. But Japan is a special case. It’s been borrowing like crazy at rates two or so percentage points below what the U.S. pays [...]

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