Proverbs 13:22 warns that “ . . . the wealth of the sinner is laid up for the just.” I won’t say this verse describes what’s actually happening with regard to modern mortgage law, but there’s enough of a resemblance to make me wonder.
Entries Tagged as ‘Economy’
September 27, 2009
An Economy of Addiction
When it comes to addictive drugs, most people would be surprised to learn that nicotine (common tobacco) is more quickly addictive than heroin, morphine or crack. But there’s another drug that even more addictive than nicotine: free money.
Oooo, we love that free money, don’t we? More than heroin, coke, crack, tobacco, alcohol, or even ice [...]
September 23, 2009
An Economy of Addiction
When it comes to addictive drugs, most people would be surprised to learn that nicotine (common tobacco) is more quickly addictive than heroin, morphine or crack. But there’s another drug that even more addictive than nicotine: free money.
Oooo, we love that free money, don’t we? More than heroin, coke, crack, tobacco, alcohol, or even ice [...]
September 11, 2009
What is “Capital”?
Most people assume that “capital” is more or less synonymous with “money”. That assumption is false.
Michael Moore (the controversial producer-director of the movies Fahrenheit 911 and Sicko) recently achieved a little more notoriety by claiming that “capitalism” is inherently “evil”. About the same time an email was banging around the internet concerning Bill Clinton’s 1997 [...]
September 11, 2009
Come September
In A.D. 1961, Rock Hudson, Gina Lollobrigida, and Sandra Dee starred in a romantic comedy entitled “Come September”. Some of you are old enough to remember that film. Those who are younger or didn’t see the film can pretty much guess the plot, the conclusion, etc.: After a remarkable September filled with amusing confrontations and [...]
August 10, 2009
Price Deflation vs. Monetary Inflation
In a recent article entitled “Hyperinflation or Deflation,” economist and author Puru Saxena wrote:
“At present, the investment community is divided as to whether the world economy faces hyperinflation or deflation. Some observers are convinced that the central banks’ printing press will take the world towards hyperinflation whereas others believe that the ongoing contraction in American [...]
July 26, 2009
The Undefined Dollar, Part II
Take a paper $50 bill in your left hand and a one-ounce “Gold Eagle” in your right hand. Both are defined in law as legal tender. Both are defined as being worth $50 dollars. But it currently takes about twenty of the paper “FIFTY DOLLAR” bills to purchase one “50 DOLLAR” gold coin.
So, again, [...]
July 13, 2009
The Undefined Dollar
If you pick up a paper $50 bill in your left hand, you’ll see a picture of President Grant in the center and text along the bottom of the bill that reads, “FIFTY DOLLARS”. If you also pick up a recently-minted one-ounce “Gold Eagle” in your right hand, you’ll see an inscription on the coin [...]
July 6, 2009
BEWARE THE IDES OF JULY (or maybe August . . . or maybe even September)
Every economic indicator shows the U.S. economy is still in trouble; still declining. The promise of “green shoots” seems false. And yet, the American people seem strangely calm. Am I the only one who thinks it’s almost “too quiet”?
May 12, 2009
Riding the Debt Tiger
I’m a long ways from being the first to observe that the total American debt has grown to dangerous proportions. But I may have been the first (July A.D. 2008) to note that the total American debt has now grown so great that it can’t ever be repaid and therefore won’t be repaid. (“What can’t [...]
