Interest rates and inflation are at a record low, yet stimulus spending has flooded the markets with currency. The valve that turns money creation into inflation is velocity. The velocity is very low because businesses are reluctant to invest and
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Peggy Noonan claimed, correctly in my opinion, that the Tea Party saved the Republican party (Why It’s Time for the Tea Party -The populist movement is more a critique of the GOP than a wing of it, Wall Street Journal
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In a world of uncertainty it is more important to know the odds than to know the facts. In a business bet, if you have a thirty percent chance of winning one hundred dollars or a seventy percent chance of
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“The first step to restoring the robust financial markets that can support global capitalism is to reassert the market’s ability to discipline itself without endangering the economy. Through its too-big-to-fail policy, expanded over the quarter of a century after Continental
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Recent postings on the growing spread between private sector and government sector employment elicited some protest, many who claimed that most government workers could make more in the private sector. This is true for some. Many of the people who
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