Boom-Bust in Microcosm
The key to avoiding “busts” is to avoid the credit expansion and “booms” that cause them.
Psychologizing and the Art of Smearing
Imagine being told that you use “mental gimmickry” and exhibit a “non-evidence-based mental process” when you’re expressing your political ideas. John J. Colby (“Robitaille doesn’t understand people,” Commentary, Sept....French Pension Riots and U.S. 2010 Elections
First, Greece was in an uproar over government subsidies and entitlements. For the past seven days, France has also been rocked by nonstop violence caused by a slight change in government-controlled economic programs. The French have announced plans to raise the...Euro Trumps The Dollar Thanks To The FED
When the euro hit a low of $1.1917 against the US dollar on June 7th, 2010, the airwaves crackled with assertions that the European common currency, beset by Greek debt problems and intra-union discord, was destined to trade at parity with the greenback. They...Global Currency Meltdown
As the recession and resultant stimulus packages add to higher unemployment and increasing public-sector deficits, the government is seeking to boost the value of overseas earnings that are accrued by US corporations. To aid in this effort, the Fed is being...Decoupling: Alive and Well
While the US economy continues to weaken (see my recent commentary: Don’t Doubt the Double-Dip), many foreign economies continue to experience solid — even spectacular — economic growth. When the global economic crisis began in 2008, many forecasters...Tax Cuts Won’t Cut It
Congressional Republicans and Democrats are engaged in a heated debate over which Americans deserve not to have their taxes raised, with both claiming that some form of tax cut will stimulate the economy. The primary point of divergence is what type of cuts will be...Secretariat Movie Trumps The Social Network in Depicting Capitalism
While Social Network holds capitalism in contempt, Secretariat exhibits a thorough grasp of capitalism in practice.
