From Mother Jones, Kevin Drum relates this Wes Venteicher story from the L.A. Times: Postal officials recently tried to end Saturday letter delivery, which could have saved $2 billion per year, but Congress blocked it. A legislative proposal to replace doorstep delivery with curbside delivery, which would save $4.5 billion, failed last year. A plan to … Continue reading


Slaughter the Bismarck

Today, 72 years ago, the Royal Navy’s Home Fleet pounded the living hell out of the Kriegsmarine battleship Bismarck.  The British were out for blood. Three days earlier, Bismarck was intercepted by HMS Hood and HMS Prince of Wales and engaged in the battle of the Denmark Strait.  The battle turned badly against the Royal … Continue reading

Economics / History

Revisiting the Wage-Price Spiral (Part of the Turn to Disinflation Series)

After writing (and rewriting) my previous post, I went back and reread Matthew O’Brien.  I suddenly remembered that his focus was 1979…and I had decided to correct him on the economic history of 1970-74.  But then I saw it again: This cycle of ever-rising prices got going with too loose monetary policy, and continued with … Continue reading



I haven’t posted anything in over six weeks, as real life has occupied my time extensively since mid-March.  I had and continue to have every intention to continue exploring the damage disinflation has wrought the world economy since the March 1973 collapse of the fixed-exchange system, but first I feel compelled to revisit the terrorism … Continue reading