Tag Archives: international monetary fund
Significant Yuan Devaluation Imminent
The Department of Commerce reported last week that U.S. gross domestic product grew at a 2.1 percent annual rate during the third quarter, not the 1.5 percent rate previously stated. Apparently, private inventory investment was greater than initially estimated. Nonetheless, … Continue reading
Cynics and the Big Fat Greek Default
“Crito, we owe a rooster to Asclepius. Please don’t forget to pay the debt,” were the final words of Socrates. He uttered them shortly after downing poison hemlock in 399 BC, in fulfillment of his death sentence for corrupting the … Continue reading
Property Confiscation Is Coming
Outright property confiscation by governments is something that’s ardently disparaged here at the Economic Prism. There’s no justification we can rationalize for state sponsored theft. This includes penalizing those who are young and healthy with a disproportionate burden of a … Continue reading
Give Default A Chance
“Jove does not give all men their heart’s desire.” – Homer, The Iliad The Measures Are Killing Us Last week, following several shots of ouzo, the Greeks took to the streets of Athens. There, while attempting to surround Parliament, they … Continue reading
