The use or rather misuse of language has always been an effective tool of politicians to enact their agendas. George Orwell’s “Politics and the English Language” brilliantly showed, in his day, how language was being manipulated for all sorts of totalitarian measures: Political language -- and with variations this is true of all political parties, … Continue reading “Inflation,” Properly Defined
Last Thursday's wanton attack on a Syrian air field by the US and its bellicose actions toward North Korea have brought to the forefront the real cost of candidate Trump's landslide victory last November. Unlike most laymen, accountants, and financial analysts, economists look at cost differently. For economists, cost or more specifically, "opportunity cost," means … Continue reading The Cost of a Trump Presidency
John Connally, President Nixon's Secretary of the Treasury, once remarked to the consternation of Europe's financial elites over America's inflationary monetary policy, that the dollar "is our currency, but your problem." Times have certainly changed and it now appears that the dollar has become an American problem. In a recent interview with the Wall Street … Continue reading Donald & the Dollar
Former Federal Reserve Chairman Alan Greenspan, who was once laudably referred to as “Maestro” for his supposed astute stewardship of U.S. monetary policy, commented last week on the nation’s current political and economic climate: We’re not in a stable equilibrium. I hope we can all find a way out because this too great a … Continue reading Donald and the “Maestro”
Franklin Delano Roosevelt called the Japanese “surprise” attack on the U.S. occupied territory of Hawaii and its naval base Pearl Harbor, “A Date Which Will Live in Infamy.” Similar words should be used for President Nixon’s draconian decision 45 years ago this month that removed America from the last vestiges of the gold standard. On … Continue reading “A Date Which Will Live in Infamy:” President Nixon’s Decision to Abandon the Gold Standard
Despite trillions of paper currency units poured into the world economies since the start of the financial crisis, there has been no recovery, in fact, all legitimate indicators have shown worsening conditions except, of course, for the pocketbooks of the politically -connected financial elites. Yet, despite the utter failure of the current money and banking … Continue reading Don’t Expect a Return to a Gold Standard Any Time Soon
Antonius Aquinas 