Home » Posts tagged 'aier'
Tag Archives: aier
Sense and Nonsense on Petrodollars
Sense and Nonsense on Petrodollars Folded dollar bill (featuring George Washington) against a map of Saudi Arabia. Last week several reports suggested the termination of a US-Saudi petrodollar agreement, and speculated a Saudi Arabian move to sell oil on world markets in various currencies, including the Chinese yuan. The accounts were rife with inaccuracies: the […]
De-dollarization Has Begun.
De-dollarization Has Begun. Last week, China and Brazil reached an agreement to settle trades in one anothers’ currencies. Over the past 15 years, China has replaced the United States as the main trading partner of resource-rich Brazil, and as such that shift may have been inevitable. But within the context of recent circumstances, this appears to […]
‘We live in an Orwellian hell-scape’: Facebook fact-checks top economist for stating America IS in a recession after Biden refused to admit it
‘We live in an Orwellian hell-scape’: Facebook fact-checks top economist for stating America IS in a recession after Biden refused to admit it Phillip Magness, the research and education director at the American Institute for Economic Research, believes the U.S. is in a recession Economists usually say it is a recession when two successive quarters […]
Dissenters, Unite!
Dissenters, Unite! Being contrarian is hard work. You need to withstand ridicule, the loss of friends, employment, and acquaintances, face the imminent possibility that most of the time you’ll be wrong, and abandon the warm fuzzy feeling of having your otherwise friendly peers confirming your bias. Yet, authentic critics are crucially important, even if (and when) they are […]
The Everything Bubble and What it Means for Your Money
The Everything Bubble and What it Means for Your Money In the aftermath of the Black Plague which swept across Europe between 1347 and 1353, wiping out between 30 and 60% of the population, the European economy changed dramatically. Source: Jeremy Norman – HistoryofInformation.com The Black Plague had a lasting socioeconomic impact; for example, towns […]
What My Friends on the Left Need to Know About the Green New Deal
What My Friends on the Left Need to Know About the Green New Deal “Nowhere has our public discourse failed us more egregiously than on the environment and climate change,” I wrote last year while reviewing the first sketches of a proposed Green New Deal. It’s since become a buzzword, but until now it remained only vaguely […]
Krugman and the Goldbugs
Krugman and the Goldbugs The announcement that President Trump would nominate Judy Shelton, a long-time advocate of the gold standard, for a seat on the Federal Reserve’s Board of Governors got Paul Krugman thinking: why do some economic commentators become goldbugs? Krugman offers a rather cynical view. It is difficult “to build a successful career as […]
The Dollar, Not Crypto, Is a National Security Issue
The Dollar, Not Crypto, Is a National Security Issue U.S. Treasury Secretary Steve Mnuchin piled on to comments made recently by President Donald Trump by calling cryptocurrencies a “national security issue.” Bitcoin and crypto proponents more broadly have long wondered if (and how) the government of the United States would recognize the slow but steady encroachment of decentralized assets, […]
MMT Is a Recipe for Revolution
MMT Is a Recipe for Revolution Historian Stephen Mihm recently argued that based on his reading of the monetary system of colonial Massachusetts, modern monetary theory (MMT), which he cheekily referred to as PMT (Puritan monetary theory), “worked — up to a point.” One can forgive him for misunderstanding America’s colonial monetary system, which was so much […]
The Real Significance of the French Tax Revolt
The Real Significance of the French Tax Revolt The gilets jaunes (Yellow Jacket) anti-tax riots in France escalated over the past weekend, again citing the impact of higher taxes on fossil fuels –and high levels of taxation in general – on everyday life. French citizens, already subject to the highest taxes in the OECD, are being […]
