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Olduvai III: Catacylsm
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Friedman On Inflation, Hanke on Hyperinflation

Friedman On Inflation, Hanke on Hyperinflation In 1966, Milton Friedman wrote, as he often did, some memorable lines that have entered the lexicon of economic quotables. As Friedman correctly put it in a book chapter titled “What Price Guideposts?”: “Inflation is always and everywhere a monetary phenomenon, resulting from and accompanied by a rise in […]

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Venezuela’s Inflation Surges to A New High: 7459%

Venezuela’s Inflation Surges to A New High: 7459% After backing off over the past month and a half, Venezuela’s hyperinflation is surging again, making a new high of 7459% yr/yr. The Grim Reaper has taken his scythe to the Venezuelan bolivar. The death of the bolivar is depicted in the following chart. On the black […]

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The IMF Experts Flunk, Again

The IMF Experts Flunk, Again My Globe Asia column in May was titled “Greece: Down and Probably Out.” Well, it’s out. Yes, Greece descended from drama to farce rapidly. If all goes according to plan, the left-wing Greek government will come to an agreement with the so-called troika — the European Commission (EC), the European Central Bank […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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