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This is the third part of a collection of pieces on money and debt.  Be sure to read the first part, The Meaning of Money, and the second part, Money: Power, Security, and Status. The best way to understand the … Continue reading →

This piece is the second part of a collection of pieces on debt and money.  Be sure to read the first part, The Meaning of Money. Once money is in the hands of the individuals in an economy that exchange it–individuals … Continue reading →

In discussions on fiscal policy, it is common to hear participants describe the economy with the word “we.”  Consider the following quote, from a prominent advocate of Modern Monetary Theory (MMT), offered in defense of increased fiscal deficits: “There is … Continue reading →

John Hussman recently tweeted an interesting chart showing a Sornette-type bubble developing on the S&P 500: Well done, but I don’t think investors should be anticipating a crash any time soon. Historically, major asset bubble crashes have always been preceded by rising … Continue reading →

I was waiting patiently at the traffic light.  After a few minutes, it turned green.  Instead of driving forward, the person in front of me, who was in no rush, decided to be a “Good Samaritan” and let all the … Continue reading →