Friday When the local farmer grew wheat and the local miller milled it and the local baker baked it, then the people were close to the source of their food. They understood that if the farmer had a bad year, that there would be a shortage of bread. That relative non-specialisation meant that the fact that production had to precede consumption was obvious to all. (no … [Read more...]
The Mengerian Myth of the Most Marketable Good
Wednesday Carl Menger was a brilliant economist who set the foundations for the Austrian School of Economics. He also perpetuated one of the great errors. Gold is not money because it is ‘the most marketable good’. Menger’s mistake continues to be repeated by many otherwise fine thinkers. It is based on the misconception that money’s primary role is … [Read more...]
Sweden Today
Sunday Sweden wanted multiculturalism, and they got it good and hard. It is a tragedy. https://www.youtube.com/watch?v=J4Xf09mfK40&feature=youtu.be … [Read more...]
When Giants Fall
Saturday This is a brutal summation of the current state of play of Western Civilization. The world is ambling toward Armageddon; not as a distant possibility, but since the shutdown of the economy, as an immediate probability. 2020 will be scratched onto the walls of caves by our descendants. James Howard Kunstler’s writings have been based around his long-standing … [Read more...]
Modern Monetary Theory
Friday Until a few days ago, I was still of the belief that taxes were going to dramatically rise by next year. It was based on solid historical precedent. At those times when governments finally (and inevitably) arrive at the point where they have ruined the economy and it begins its collapse, so government revenue falls. As revenue falls, so … [Read more...]