Category Archives: Debt

Their Turkey and Ours

“Recep Tayyip Erdogan believes high interest rates are the cause of inflation, not the remedy for it”  The Economist May 19, 2018 “How-turkey-fell-from-investment-darling-to-junk-rated-emerging-market” During the 1990s the inflation rate in Turkey averaged around 80% per annum varying between 60% and 105%.  … Continue reading

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Who pays for Uncle Sam’s deficits?

Who pays for Uncle Sam’s deficits?  

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Feeding the Swamp

During his filibuster leading to last week’s brief government shutdown, Sen. Rand Paul (R-Ky.) stated that: “When Republicans are in power, it seems there is no conservative party…. The hypocrisy hangs in the air and chokes anyone with a sense … Continue reading

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SALT—More press nonsense on tax reform

The elimination of State and Local Tax (SALT) deductions from the proposed tax reforms working their way through Congress has become a hot topic. Fine, but please keep the discussion honest. Sadly my local newspaper, The Washington Post, is not … Continue reading

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Trust and False News

January 26, 2017 The quality and extent of interactions among people (neighbors, companies, governments) profoundly affect our quality of life. Trust is a critically important element of such interactions and of “The Wealth of Nations,” to quote Adam Smith. No … Continue reading

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A Modest Proposal—Helicopter Money and Pension Reform

It is possible to fix the bankrupt Social Security System and the Federal Reserve’s failure to achieve its inflation target painlessly. Yes, really. The Fed has failed to raise inflation to its 2% target because over regulated banks can’t find … Continue reading

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Greece: What should its creditors do now?

Following Sunday’s NO vote in Greece, what ever that might have meant, it is tempting to tell Greece to get lost and be done with them. Aside from the unseemly lack of compassion for our suffering fellow man, the further … Continue reading

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