Monthly Archives: May 2019
The Ugly End of Globalization
About this time, something even more historic happened. Roughly one billion Chinese workers, who were willing to work for less than peanuts, joined the global workforce. As a result, the U.S. was able to export its inflation – and jobs – to China and other emerging economies over the next three decades. Continue reading
Workers of the World, Unite!
Several decades of perpetual credit creation courtesy of the Fed’s artificially low interest rates have had countless unintended consequences for the global economy. In short, the economy’s reconfigured itself in ways it otherwise wouldn’t have. One example is the offshoring of U.S. jobs to China and the massive trade imbalance between the two countries. Continue reading
One Heck of a Reality Television Fight
Economic nationalism and the China bugaboo is shaping up to be one heck of a reality television fight. This is a cause that idiots on both sides can line up behind with gusto. Continue reading
The Three Stages of Modern Monetary Theory
Some ideas are so bad they’re best ignored. Like resentments – or stray cats – if you don’t feed them, they’ll go away. Before long, they’re forgotten altogether. That has been our approach to Modern Monetary Theory (MMT). The idea’s so obviously foolish, reckless, and outright suicidal. Why feed this dorkus maximus of economic thought? Continue reading
