Spend ’til it Hurts
Every year, the Congressional Budget Office (CBO) adds to its short-term budget forecasts (10 years and 25 years) a long-term (75-year) outlook.The 2013 Long-term …
debt
In Praise of Government Gridlock
Our “Crash Alert” flag warns of a crash in U.S. stocks. Readers are advised to proceed with caution. But since the start of September, …
So Where’s the Hyperinflation Already?
The Federal Reserve has grown the monetary base from $827 billion to $3.1 trillion in five years. At the same time banks have stuck …
The Triumph of Scrooge McDuck
Government can control many things, but it can’t control our minds and, therefore, our economic decisions. This has been a major source of frustration …
The Making of a Modern Debt Slave
In the ancient world, when people got themselves into debt, they were often forced to sell their daughters into prostitution and their sons into …
Is It Fixable?
In the 15th century, the highest standard of living in the world belonged to China. Places like Nanjing had reached the pinnacle of civilization …
Is There an Infinite Amount of Money Available to Fund U.S. Debt?
I am often asked, “How can anyone not see the problems of growing debt in the U.S.? Why can’t we get a consensus to …
The Coxeyites, the Bankers, and the Political Class
In 1894, a scraggly band of misfits made their way from Ohio to Washington, D.C. They had a plan to present to the political …
2008? That’s Ancient History, Right?
Memories are short, and 2008 is ancient history. Consumers can’t suppress their urge to consume. Lenders can’t suppress their urge to lend. We’ve learned …