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Joseph Stiglitz – “American Inequality Didn’t Just Happen…It Was Created.”
Joseph Stiglitz – “American Inequality Didn’t Just Happen…It Was Created.” Yesterday, I came across an excerpt from a book written by economist Joseph Stiglitz, which touched upon many crucial points regarding the U.S. economy. I think it’s an important read since it helps explain the roots of the current rebellion taking place within the political […]
Money is not a store of value. It is a claim upon value
Money is not a store of value. It is a claim upon value Note: This was originally published as a response to the Aeon Conversations piece ‘What is Money‘ Money is not a store of value. It is a claim upon value. This might sound like pedantic semantics, but it is crucially important, especially if you’re […]
Warming means unfair share for poor
Warming means unfair share for poor A bumper catch off the coast of northern Norway may be bad news for fishermen in southern waters. Image: Bo Eide via Flickr As temperatures rise with climate change, the Earth’s natural capital will change too − but there may be few winners, even among the wealthy. LONDON, 5 March, 2016 – Climate […]
How Do You Recover From An Economic Collapse?
How Do You Recover From An Economic Collapse? The road to recovery from any type of societal collapse is largely dependent on the mechanism that caused the collapse. For this reason we need to determine what the likely cause of the collapse will be and have the appropriate equipment to fix the malfunction after it happens. […]
Chomsky Wants You to Wake Up from the American Dream
Chomsky Wants You to Wake Up from the American Dream If you’ve just seen Michael Moore’s movie and are wondering how in the world the United States got diverted into the slow lane to hell, go watch Noam Chomsky’s movie. If you’ve just seen Noam Chomsky’s movie and are wondering whether the human species is really worth saving, […]
If Knowledge Is Power, Is It Also Wealth?
If Knowledge Is Power, Is It Also Wealth? Ironically perhaps, the ideas that are scarce are those that disrupt “business as usual” by automating what has not yet been automated. Let’s consider a syllogism: Knowledge is power, power equals wealth, so knowledge equals wealth. Is this true? Author George Gilder thinks so. His book Knowledge and Power: […]
Capital Controls Are Coming
Capital Controls Are Coming The carnage always comes by surprise, often on an otherwise ordinary Saturday morning… The government declares a surprise bank holiday. It shuts all the banks. It imposes capital controls to stop citizens from taking their money out of the country. Cash-sniffing dogs, which make drug-sniffing dogs look friendly, show up at […]
2016 Market Meltdown: We Have Never Seen A Year Start Quite Like This…
2016 Market Meltdown: We Have Never Seen A Year Start Quite Like This… We are about three weeks into 2016, and we are witnessing things that we have never seen before. There were two emergency market shutdowns in China within the first four trading days of this year, the Dow Jones Industrial Average has never […]
A short lesson on wealth creation
A short lesson on wealth creation This morning on CBC Newsworld business reporter John Northcott was describing, in horror, a recent OXFAM report indicating that 62 of the world’s richest people have as much wealth combined ($1.76 trillion) as the poorest half of the planet (3.625 billion). Mr. Northcott and lead anchor Suhana Meharchand made […]
Welcome To The New Normal: The Dow Crashes Another 390 Points And Wal-Mart Closes 269 Stores
Welcome To The New Normal: The Dow Crashes Another 390 Points And Wal-Mart Closes 269 Stores Did you know that 15 trillion dollars of global stock market wealth has been wiped out since last June? The worldwide financial crisis that began in the middle of last year is starting to spin wildly out of control. On Friday, […]
The Dow Falls Another 364 Points And We Are Now Down 2200 Points From The Peak Of The Market
The Dow Falls Another 364 Points And We Are Now Down 2200 Points From The Peak Of The Market It was another day of utter carnage on Wall Street. The Dow was down another 364 points, the S&P 500 broke below 1900, and the Nasdaq had a much larger percentage loss than either of them. […]
Looking for Sanity in an Insane World
Looking for Sanity in an Insane World Why has China become so important? Largely because global investors are in this transition mode and do not understand how or why the foundation of everything is changing beneath them. The market turmoil in China spread around the world on Thursday as global investors took their lead from China as […]
China, Oil and Markets: It’s All One Story
China, Oil and Markets: It’s All One Story If there’s one thing to take away from this year’s developments in markets and economies so far, it’s that they are all linked, they’re all part of the same thing. If you can’t see that, you’re not going to understand what’s happening. Looking at falling oil prices […]
