What would a gold-backed currency do to America?

Summary:  The history of gold-based currencies, from Newton to the Great Depression, warns us that they are no panacea. If not carefully structured they can destroy an economy in extremis by preventing radical monetary easing.  This is part two of two looking at gold-based monetary systems, the theory and the history. See part one here. … Continue reading What would a gold-backed currency do to America?

The Titanic’s lessons for us about the coming economic crisis

Summary: Bad decisions often transform a crisis into a disaster.  Sometimes bad decisions are unavoidable. Today we'll look at two episodes of the past, mining them for useful lessons for us about leadership. Contents Introduction Learning from the Titanic Learning from the Great Depression Looking at responses to the 2008-2009 crash, and the crises that … Continue reading The Titanic’s lessons for us about the coming economic crisis

The global economy is sitting on a volcano. What happens next?

Summary:  Previous posts have discussed our perilous situation and how we got into this predicament.  Let's take a step back and ask why we are here.  The says much about where we're going. Contents We're living on a volcano Let's look at the volcano How big an eruption might we get? What can we do … Continue reading The global economy is sitting on a volcano. What happens next?

Why do awesome people – like us – have such inadequate leaders?

Summary:  Each campaign season brings complaints about the quality of the candidates.  Why such a poor selection, unlike what we see at Best Buy?  Read this for an answer, proven by history.   I tweaked this, as comments suggested that the inital version was unclear. "Have you ever stopped to consider that there is a difference between ideals and … Continue reading Why do awesome people – like us – have such inadequate leaders?

Can Obama turn America into something like Zimbabwe?

Summary:  Can Obama make America like Zimbabwe?  Or is this widespread warning a sign that we've become gullible fools?  The easy acceptance of this preposterous warning suggests the latter.  It's sad that such a post is necessary.  Worse, explaining these facts is unlikely to change the mind of many people believing this nonsense.  This is … Continue reading Can Obama turn America into something like Zimbabwe?