By itself, inflation (rising prices) may be annoying , but it’s fundamentally harmless. I.e., suppose your job paid $50,000 a year, the inflation rate was 10% and prices increased by 10%. That 10% rise in current prices for bread, gasoline and homes might be mathematically annoying, but those increases in current prices would make no [...]
Entries from November 2008
November 17, 2008
Just “Figurin’ Around”
I started tracking the nine following economic indicators on a weekly basis last June 20th. I’ve arranged those indicators in order of their percentages of increase or decline below. From June 20th through November 14th—a little less than five months—those indicators moved as follow:
1. US Dollar Index rose 15.40 points from 72.28 to 87.68—about 21.3%.
2. [...]
November 8, 2008
A Multiplicity of Citizenships?
In A.D. 1852, the Supreme Court of the United States declared in Moore v. Illinois (14 How. 13; 55 U.S. 19) that:
“Every citizen of the United States is also a citizen of a State or territory. He may be said to owe allegiance to two sovereigns, and may be liable to punishment for an infraction [...]
November 8, 2008
Signs of the Times
On Thursday, November 6th The New York Times published the four articles which, in sum, offer a snapshot of where our economy is, and where it’s heading. Excerpts from those articles and my comments follow:
November 8, 2008
Tragedy Tomorrow, Comedy Tonight! (or, Economics is easy—comedy is hard.)
There’s a fine line between heroics and hilarity. There’s a point where even heroes become clowns.
If you read enough about our current economic crisis, you can’t help but develop a mortician’s sense of humor. Each grim new statistic and depressing report becomes cause for giggling rather than despair. It’s like watching men in the engine [...]
