Category Archives: News/ Lessons

Re:  Argentina Loses Debt Appeal I have read many otherwise reputable economists state that defaulting on one’s sovereign debt is not such a bad thing, often citing Argentina as an example.  Well, read what sovereign debt default really means.  Your … Continue reading →

UK may have to help third Greek bail-out  COMMENT: Godfrey Bloom, UKIP MEP http://www.express.co.uk/news/uk/423861/UK-may-have-to-help-third-Greek-bail-out Central bankers and politicians speak of never-ending bailouts only because they can print money in unlimited amounts.  The Greeks know it; the Spaniards know it; the … Continue reading →

Re: Just set fire to Japan’s quadrillion debt, by Ambrose Evans-Pritchard Well, Ambrose, I am one of those who has “Austro-outrage” over your inane proposal to just burn or bury in a locked drawer Japan’s mounting debt.  Your unconcern over … Continue reading →

The Great Deformation The above link to David A. Stockman’s speech at the Mises Institute on May 23, 2013 is well worth your time.  He discusses the main points of his new book The Great Deformation: the Corruption of Capitalism … Continue reading →

From today’s Open Europe news summary: ECB lending to banks in Portugal reached €50.2bn in July, its highest level for seven months. Bloomberg WSJ Reuters Irish Independent As explained by Professor Philip Bagus in this essay, the European Central Bank … Continue reading →

Re: BIS blames Europe’s creditors for eternal euro crisis AS usual, the same, tired, myopic monetary bureaucrats fail to dig deeper into the cause of the euro debt crisis, blaming banks for accommodating subprime debtors.  But why would they do … Continue reading →

Dear Sirs: Ms. Mariana Mazzucato’s book The Entrepreneurial State: Debunking Public vs Private Sector Myths is hardly the “brilliant exploration of new ideas in business” and that “government is behind the boldest risks and biggest breakthroughs”, as Martin Wolf writes in … Continue reading →

About ten years ago my wife, son, and I stayed for one night with acquaintances in a small town in Queensland, Australia.  They lived on a small property and kept a donkey.  They had built a small earthen dam to … Continue reading →

Housing Prices Jump, But Headwinds Build This Wall Street Journal article is typical of many in that it celebrates the rise in home prices.  Yet no one is happy if other costs of living increase, such as food, energy, clothing, … Continue reading →