Gold Standard no Protection against Inflation

April 30, 2009 at 14:16 | Posted in economics, Gold Standard, inflation, Irving Fisher | Leave a comment


In this fascinating letter to the editor from June 1, 1917 Irving Fisher discusses inflation brought about by an increase in the supply of gold. It seems that increasing the supply of money always causes inflation, regardless of what kind of money is used.


War Is Tribal

April 30, 2009 at 13:46 | Posted in Random Thoughts, War | Leave a comment


The implicit and largely unacknowledged justification for war – not pitched battle between armed units in a defined field of combat, but war – is that some humans are inherently of greater value than others. Waging war denies the universal equality of all human life, and to wage war in the defence of universal human rights is not therefore logically possible. All wars are tribal.

Who ever said this man is stupid?

April 29, 2009 at 20:30 | Posted in George W. Bush, Matt Lauer | Leave a comment


Is this the same guy who could not string two sentences together during scripted speeches? Ok, his intonation is odd , and his accent is not exactly New England – but once you get over that, I don’t think this is a stupid man talking. He knows exactly what he’s doing – including the intimidating body language. If anything, the man is nasty.

Peter Schiff on why Mankiw and Co are nut

April 27, 2009 at 23:52 | Posted in economics, Peter Schiff | Leave a comment


Not that anybody with half a brain needed to be told this, but still…


What’s in a Name?

April 27, 2009 at 14:23 | Posted in Israel | Leave a comment


I was wondering all weekend what the impact would be on faithful Muslim or Jewish individuals if they contracted Swine Flu…

Well, it’s good to know the authorities are on the ball.

According to Haaretz

Ultra-Orthodox Deputy Health Minister Yakov Litzman on Monday declared that Israel would call the new potentially deadly disease that has already struck two continents ‘Mexico Flu,’ rather than ‘Swine Flu, as pigs are not kosher.

Now I’m only waiting for the protest note by the Mexican government….

Makin Money – the Easy Way #2

April 27, 2009 at 03:15 | Posted in scam | Leave a comment

If you even think of trying this, consider yourself scum.

Making Money – The Easy Way #1

April 27, 2009 at 03:10 | Posted in scam | Leave a comment


Of course, if you really did this to anybody, you’d be nothing but a scumbag lowlife.

West traps Russia in its own backyard

April 24, 2009 at 19:07 | Posted in Central Asia, International Relations, Iran, Russia, United States | Leave a comment


M K Bhadrakumar explains how the US is trying to get back some of the influence it has been loosing to Russia over the last three years or so. I have little to complain about his analysis, except that he seems to ignore the far greater threat to Russian interests from the slow but determined attempts at detente between the US and Iran. Few things scare the Russians more than a pro-Western, or at least no longer anti-Western Iran. Stay tuned.

A concerted US effort has begun to somehow detach Ashgabat from the Russian sphere of influence and thereby kill the prospects of Russia’s plans for laying new gas pipelines for the European market. Alongside, there is also a determined bid to develop a northern supply route to Afghanistan via the Caucasus and the Caspian that would bypass Russia. While Russian cooperation is welcome, the US will not want its vulnerability in Afghanistan to be exploited for a reciprocal accommodation of Russian interests in Europe.

Sound the Alarm – A New Ice Age is Coming

April 23, 2009 at 21:03 | Posted in Climate Change, sunspots | Leave a comment


Well, maybe not quite. However, it seems that low solar output is puzzling astronomers all over the world, wondering whether the recent dearth in sunspot activity and a serious case of solar doldrums are indicators for a little cold spell on Earth.

We had those before, and the world is not going to end, but a few years of this won’t be fun. Serious changes in climate are never fun, and can bring about all kinds of nasty side-effects, like… famines, war, intellectual revolutions, and all that jazz.

One thing is for sure, though – no matter what the computer model wizards are telling us, predicting climate is about as solid a science as predicting the economy: it’s all about ceteris paribus, and that’s just never the case.

Poland & Brazil as model economies?

April 21, 2009 at 14:09 | Posted in Brazil, economics, Korea, Poland, Policy | Leave a comment


While it seems that the vast majority of governments around the world are engaged in economic insanity,

There are some countries for which this is not true; those which, for one reason or another, did not adopt the prevalent global pattern of monetary laxity and fiscal hysteria. Poland, for example, was always likely to get in trouble from this recession, because it ran a balance of payments deficit, and over 5% of its gross domestic product (GDP) came in through foreign direct investment, which has dropped sharply. However, instead of engaging in massive stimulus, Poland allowed the zloty to depreciate by about 30% against the euro since July 2008, while its M3 money supply, up 17% in zloty terms, declined in euro terms by over 10%.

Read on…

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