Category Archives: Government Debt
More Credit, More Debt: Lessons from the Last Great Unraveling
“The lord giveth increase, but man devised credit.” — Garet Garrett Solving the Debt Problem with Credit Something quite remarkable happened in the years following the war to end all wars. European economies were ruined and European governments were buried … Continue reading
Disgraceful and Insulting
New discoveries were made on the economic front last week. The Labor Department reported that 163,000 jobs were added in July. Yet even with the new jobs, the unemployment rate rose to 8.3 percent. “We’ve still got too many folks … Continue reading
A Valuable Lesson on Money Creation
“No, absolutely not,” answered European Central Bank (ECB) President, Mario Draghi on Saturday over croissants in Paris. He was responding to a question from the French newspaper Le Monde, asking if the euro were in danger. There are numerous axioms … Continue reading
Celebrating Independence Day with Gratitude
Uncompromising independence and limitless personal freedom were once essential to the American character. According to popular American folklore, they still are. We have some reservations. No doubt, America was at one time the land of the free. Of course, that … Continue reading
