Ned Beatty isn’t totally right here but there’s a good bit of truth in what he says. Regardless below is one of the greatest scenes in all of cinema and everyone should see it.
We are pretty much obliged to run this one. Of course it has popped. It’s been deflating for months. Really longer than that though the Shanghai Stock Exchange didn’t reflect it for a while. And it’s not like the Chinese pop is over, it’s got plenty more to go. Lots of “fun” is still ahead of us.
People who care about the world economy and world politics should look closely at China. It is a classic case of “
In the effort to inject interesting economic thought into the discussion at ACC we present the following video by Jeff Deist recorded at the Mises Institute. This lecture will likely challenge many of your assumptions about money.
If you really want to understand why the crony capitalist system is so insidious as well as ubiquitous I highly recommend listening to this bit from the master Murray Rothbard. If you really want to get what is so messed up about government and the “privavte sector” partnering up, one must know at least a little bit of his work.
Warning though. Rothbard can rattle one’s whole understanding of politics and economics.
That is frankly a good deal. It should be noted that 15 years ago or so Zimbabwe was more or less a functioning country. With close proximity to relatively rich South Africa it was not the typical sub-Saharan African state. But it did have (has) a populist dictator who was able to run things into the ground.
If you’ve got a 50 million dollar house in London, New York, or Monaco things are looking pretty good for you. Of course they were already probably looking pretty good. Funny how that works. It’s nice to have access to the Fed window.
Of course many of us in the real estate sub-tiers continue to see little or no growth in the price of our homes, Indeed, adjusted for inflation many people continue to lose money year over year.
Iceland stands like a sentinel at the gates of the Arctic and astride the Mid-Atlantic rift. Part of Scandinavia but also the last stone hop to North America it is a place which breeds peculiarity. With a population of under 330,000, less than the population of Wichita, Kansas, this peculiarity is compounded. Throw in month long winter nights and communal hot spring spas and one can understand why the tiny country produces such weird (and often interesting) furniture, music, and economic ideas.
This is clearly indicative of a healthy and improving world economy. Everything is just fine.
Brazil and Argentina. Both in trouble.
Looks like the South American socialism experiment isn’t working out so well. Venezuela, Brazil, Argentina, the 3 biggies are all floundering economically, big time.
Perhaps Hernando DeSoto the Peruvian free market economist should hold a weekend retreat for the leaders of these countries and school them on how to create wealth and opportunity instead poverty and despair. Just an idea.
Well this is pretty interesting. I think most of us who are paying attention have lost a lot of faith in cash over the past few years, but it sure is something when the head of the Federal Reserve admits on camera that the dollar isn’t a “convenient” store of value.
Fundamentally it comes down to whether one thinks one can get something for nothing. If it has been your experience that something can actually be gotten for nothing, no work, no money, no “other people’s money,” no blood, then congratulations. You live in an easier world than the rest of us. If however you are inclined to think that for every action there is an equal and opposite reaction, then perhaps you should be concerned about the piles of sovereign debt stretching into the wispy stratosphere.
“I don’t think another $trillion in purchases is enough to achieve what the ECB is trying to do.”
Probably not according to the Federal Reserve.
What a relief. The Fed still thinks it’s OK for us to – gasp – carry money in our wallets. Whew. At least we haven’t crossed that rubicon yet.
Give anyone who can register a pulse a student loan and guess what? All that money will find its way into the system and will inflate the cost of “education.” It’s simple. It seems obvious. And yet so many people fail to understand that the reason college is unaffordable is because of all the efforts to “make college affordable.”