GDP Growth Isn’t the Same Thing as Economic Growth
To gain insight into the state of an economy, most financial experts and commentators rely on a statistic called the Gross Domestic Product (GDP). The GDP framework looks at the…
Price Stability Is Overrated
We think inflation targeting a Keyensian form of price stability is poor economic policy for a number if reasons. (1) Price inflation results from our savings being worth less over…
The Week Ahead | 10/14/2019
Good Morning, I am sorry I have not added The Week Ahead for thepast couple of weeks. Working on technical issues that will allow faster data access. On My Mind…
Will You Outlive Your Savings?
Saving for retirement is a challenging endevor. Market prices rise and fall and inflation flucturates. To keep up, we are all forced to speculate which we view as a bad…
Modern Monetary Theory
Modern Monetary Theory (MMT) is anything but modern. The technique of governments printing money to pay their bills has been tried and tested over an over again. In the final…
Palladium: The Secret Weapon in Fighting Pollution
The catalytic converter is one of the greatest inventions in the environmental age. It started with platinum, but due to its cost, scientists figured out how to make platinum younger…
Inverted Yield Curves, Recessions
We have read a lot about the yield curve these days. The yield curve is simply a graph of interest rates as a function of time to maturity. Historically, recession follows…
Economic Busts Can Happen in a Free Market. But Central Banks Make Things Much Worse.
Friedrich Hayek, the great Free-Market Economist won a Nobel prise in economics for his work on the causes of the business cycle. Hi works showed that the Fed is the…
The Warren Buffett Empire
Berkshire Hathaway is amn insurance company, holding company and conglomerate all in one. The sutruture of Berkshire as just as much to do with high rates of return as the…
Banking: Saving and Checking Accounts
Banking seems like a simple business, but it is more complicated than most think. It is important to remember that you do not have money in the bank. When you…