Inflation is a 20th Century artifact that found its footing in the collapse of the British Pound Sterling-based global economy after WW1. Inflation really kicked in with the arrival of the Keynesian-powered Federal Reserve, US Dollar based global economy after WW2. One 1913 US … Continue reading
The 9th Circuit US Court of Appeals, located in California, has its rulings overturned by the US Supreme Court (SCOTUS) more than any other federal appellate court. Another way of saying this is that Its rulings fall outside the bounds of the US Constitution … Continue reading
US income tax policy has become so tangled with special-interest carve-outs, so polluted with politics and ideology that it’s not functional anymore. It’s broken. It simply can’t do the job any tax system has as a primary task: to produce sufficient … Continue reading
The latest Real Clear Politics (RCP) average of recent polls has President Obama being reelected with about 320 electoral votes … winning Virginia and Ohio and Florida … with Governor Romney taking about 218. While this number fluctuates daily it’s consistently … Continue reading
A camera that shoot pictures of dark energy and a revolutionary mathematical proof only one person on the planet understands. That’s what qualifies as science these days. I’ve got this nagging suspicion they’re making this stuff up. Gone are the … Continue reading
Josh Billings, a humorist and commentator in 19th Century America once said “It ain’t what we don’t know that gives us trouble, it’s what we think we know that just ain’t so.” We think gold is rare, for instance. It … Continue reading
As regular readers know, I teach a finance and economics seminar at Texas Instruments. I just finished one Sept 14th. The majority of my group of TXN managers were … as is usual these days compared to 20 years ago … Continue reading
There’s been a great deal breathlessly said, much gnashing of teeth, wringing of hands and wails of anguish over Mitt Romney’s now-famous statements. Most of it is coming from the PPM (Professional Propaganda Media) tilted both left and right. There’s … Continue reading
Ray Dalio. One of the most successful investors you’ve probably never heard of. Yes, you do need to hear what he thinks. Yes, he does sound more optimistic on the future of the US economy over the next 5-7 years than I … Continue reading