Wednesday “Time-preference is simply the desire to own goods at an earlier date rather than later.” (here) I come across this regularly, and it is important to understand that this is just an observation that is sometimes true, but, equally as often, is not. Imagine receiving a crane delivery of a roof for a house before the walls are constructed. What would … [Read more...]
Ponzi Civilization
Thursday We live in an age of threat. International debt collapse is inevitable, as is the concomitant collapse of the fiat ‘money’ that represents the debt. Only the timing is uncertain. Sabre-rattling nation states, desperately trying to distract their citizens from insurmountable economic and monetary problems, have led to a level of nuclear threat only exceeded by the … [Read more...]