the best indicator of a country’s future stability is not past stability but moderate volatility in the relatively recent past.
TINA and the complacent belief in free lunches strip the resiliency from a system and leave it vulnerable to collapse.It’s tough to select three acronyms that best capture the current perfection of central planning, central banking and centralized prop…
When the system is set up to encourage maximizing self-interest, accountability for the whole is lost.
There is no substitute for the discipline of a market that cannot be manipulated by political elites.It’s not that difficult to understand why the euro is doomed to fail.
All the gimmicks lenders press on borrowers to maintain the artifice that the loan is being serviced are financial frauds.