A couple of decades ago, when the post-war baby boom generation was in its prime earning and tax-paying years, governments had a chance to guarantee
Here’s a new indicator for you: It seems that the difference between the price of oil here and abroad is a measure of tightness in
Ah, Italy. My people; fun to be around, a nightmare to govern. And now an existential threat to the European Union, the euro currency, and
About a year ago, Argentina – which has inflated away and/or defaulted on its currency every few decades for the past century – issued 100-year
In interviews, whenever I try to make the case that US policies are leading to the kinds of currency disruptions common in developing countries, I
If you’re running a business and the price of one thing goes up, you can work around it by economizing elsewhere. But when everything –
Economists have been struggling to explain how unemployment can fall to 4% without wages starting to accelerate. The following chart shows paychecks rising at about
Cornflakes and milk may or may not be getting more expensive, but some higher-profile things are rocking like it’s 1979. Houses, for example: Home prices
Dave, the plumber who saves us every six or so months when a leaking pipe, water heater, or toilet threatens to destroy our walls and
In the next downturn (which may have started last week, yee-haw), the world’s central banks will face a bit of poetic justice: To keep their
A policeman sees a drunk man searching for something under a streetlight and asks what the drunk has lost. He says he lost his keys
When governments create insane amounts of money, the recipients of that money tend to behave accordingly. Consider: Einstein scribbled his theory of happiness in place
It’s unclear what China was thinking when it was borrowed all those trillions to quadruple its capacity to make steel, cement and other basic industrial
Somewhere back in the depths of time the world got the idea that easy money — that is, low interest rates and high levels of
By now it’s an article of faith within the sound money community that most major countries have borrowed so much that they’re left with only
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