In the hierarchy of money gold is superior to fiat money. From an historical perspective the past decades have been characterized by trust in fiat money, whereby fiat made up the lion share of global […]
Category: Economics
Brenner & Kondratieff Waves v Economic Confidence Model
COMMENT: Marty, I began following you in 1985. That is when everyone was using the Kondratieff Wave and admitted it averaged 45 to 60 years. They were all predicting another Great Depression. You were the only […]
Energy Transition Advocates Get A Reality Check
This week, the Intergovernmental Panel on Climate Change released a new report. Unsurprisingly alarming, the report aimed to turn up the heat on governments, the business world, and every one of us to do more about […]
Karl Marx Was Not an Economist
Despite the massive intellectual feat that Marx’s Capital represents, the Marxian contribution to economics can be readily summarized as virtually zero. Professional economics as it exists today reflects no indication that Karl Marx ever existed. […]
We’ve Forgotten That Business-Cycle Recessions Are Essential
A stagnating zombie economy never recovers. Four decades of rising markets punctuated by crisis-induced crashes seems to have fostered an unspoken belief that no one should ever get hurt in markets or the economy. Everything “should” […]
And Just Like That, The Tight Money Era Is Over
At the beginning of last week, everyone expected central banks to “tighten until something breaks”. By the end of the week it was clear that they’d already broken everything. Two middling US banks imploded, European mega-bank […]
It Turns Out That Hundreds of Banks Are at Risk
It’s the weekend, but our fresh Financial Crisis does not sleep. And a recent study says we’ve only seen the tip of the iceberg. The Washington Post yesterday wrote: “If banks were suddenly forced to […]
Socialism Isn’t about Creating Economies. It Is about Amassing Political Power
Ludwig von Mises wrote Socialism: An Economic and Sociological Analysis, a small book published in 1922, which demonstrated that economic calculation in a socialist commonwealth is impossible. Of course, Mises assumed that the purpose of an economy, even […]
Mapped: Minimum Wage Around the World
The purpose of a minimum wage is to establish a baseline income level for workers in a given jurisdiction. Ideally it’s enough to cover basic needs like food and housing, but this isn’t always a […]
Gold prices reflect a shift in paradigm – Part II
In the first part of this report, we highlighted that observed gold prices have significantly detached from our model-predicted prices. While this has happened in the past, prices always converged eventually. However, the delta between […]