the economist

The Economist recommends taking the easy path to inflation. But what if it’s closed?

Summary:  If the great monetary experiments underway in Japan and America succeed, then the world will change. Aggressive fiscal and monetary stimulus will become routine, even normal. For better or worse. Already the normalization process has begun by people unaware that in this new century the easy path to inflation has been closed, with as …

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A poll shows the source of America’s problems

Summary:  More evidence that I’m wrong, that greater public participation will not by itself benefit America.  Decades of learned ignorance (aka intense propaganda) have left us too ignorant.  We’re living in dreamland.  Only a crash will restore our awareness of the real world.  China’s leaders probably read such articles and smile (or laugh). Fascinating but …

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A sad picture of America, but important for us to understand

Looking in the mirror is the first step to growth and reform for an individual and a nation.  Look at this graph.  Compared to other nations we have both a high degree of income inequality AND low social mobility (fathers’ and sons’ incomes are highly correlated).  This has many consequences, none of them good.  Esp …

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