Years ago (think late 1960s and early 1970s), I collected stamps. I learned much about a variety of subjects looking at them and learning about the events, people, and places they displayed. One that struck me was this: Being young and ignorant, I was puzzled: there was a Golden Gate without a bridge? Well, yes, of course there was: (By Ansel Adams, from Flikr) "The Golden Gate is One of … [Read more...]
Hyperinflation-era German currency Source: Flikr Creative Commons Welcome back to the monthly inflation! debasement! update. We’re keeping track of that nefarious phenomenon of which Speaker of the House Paul Ryan warned that, no matter what the data tell us, accelerating inflation and a depreciating currency are just around the corner. Here are the latest data through May 2016: … [Read more...]
Source: Flikr Creative Commons I usually wake up to the sound of NPR's Morning Edition. Today, I got a rude awakening hearing the story, "Trump Favors Returning To The Gold Standard, Few Economists Agree." Jim Zarroli does a nice job presenting the issue in a calm, "on the one hand, on the other hand" manner. I'll be more blunt: going back to the gold standard is a terrible idea. I wrote … [Read more...]