The fallacies of GDP
byThe common error of confusing growth with progress goes largely unnoticed, though it permeates all macroeconomic analysis. There is no better example of this…
June, 2015
ECB Excesses
byWith last week’s report of monetary developments in the Eurozone, we again have evidence both of Draghi’s monetary monomania and of the sheer futility…
What The “Bourbon Shortage” And The Kentucky Derby Can Teach Us About The Fed
byThere is an urban legend that there is a looming Bourbon Supply Crisis. (Heaven Forfend!) Meanwhile, American Pharoah, as expected, won the Kentucky Derby….
How Could the Fed Protect Us from Economic Waves?
byMainstream economists tell us that the Federal Reserve protects us from economic waves, indeed from the business cycle itself. In their view, people naturally…
Such terrible suspense
by“This suspense is terrible. I hope it will last.” – Oscar Wilde. Is there any investor out there not suffering from crisis fatigue…
China’s five year plan and the end of an era.
byChina is in the late stages of constructing its thirteenth five-year plan, a process that commenced over a year ago and will result in…
The Non-GAAP Revulsion Arrives: Experts Throw Up All Over “Made Up, Phony, Smoke And Mirrors” Numbers
by[This was first published at Zero Hedge here http://www.zerohedge.com/news/2015-06-08/non-gaap-revulsion-arrives-experts-throw-all-over-made-phony-smoke-and-mirrors-profi] One of the recurring stories on Zero Hedge has been the increasingly more blatant fabrication of…
Building concerns
by“As for the rest of the billions, it’s not clear precisely where that money went. There are some clues. FIFA’s personnel expenses were $397…
Seth Lipsky’s The Floating Kilogram, “The Federalist Papers For A Gold Standard”
byA recent article in The Week by progressive columnist Jeff Spross, How modern capitalism killed self-reliance, observed that “The gold standard is a niche…
On not adding, but taking away
by“Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.” – Charlie…