Wednesday, November 27, 2013

Bubbles or No Bubbles?

I have vented my unscientific opinion about the existence of asset bubbles in our economy.  If you are interested in this subject, please be so kind as to click on the following link:

Asset Bubbles, How Do I Love Thee?

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Monday, November 18, 2013

Economic Common Sense from a Liberal?

Sometimes one finds basic logic in the strangest places. Kristen Bell, a young TV and movie actress writing in last May's Time magazine to describe the genius of Perry Chen (the inventor of Kickstarter, the "catalyst for the crowd funding economy"), says this:

"There's something so smart and magical about that idea–connecting consumers with creators and letting them vote with their own money."

Kristen is a vegetarian, PETA supporter, and a campaigner for Obama, according to Wikipedia. Isn't the world a strange place.

[Photo from Wikipedia commons.]

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Thursday, November 07, 2013

If the Fed Won't Give Us Sound Money, Who Will?

Recently, a good friend asked me to describe the recent research on the subject of "sound money." He is referring to money that is not fiat, money that is anchored in something with real value as contrasted to market-determined value.

Historically, the last time the world had any sound money was during the reign of the gold standard. One of the gold standard's most ardent defenders was 20th century economist Edward C. Harwood, who was nicknamed the Father of the Sound Money Movement.

More recently, one of the places one needn't look for research on sound money is the Federal Reserve. My article at Seeking Alpha continues the discussion.  (Read the full article.)

Interesting images:

A gold dollar from 1888:
A gold-backed paper certificate from 1934:
Current distribution of fiat money around the world:

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