Economics / History / Warfare

Aggregate Demand Dominance: 300 Years of War Finance

The Utter Failure and Stupidity of the Gold and Silver Standards: Part 2 My previous posting posits there is an inextricable connection between warfare and inflation/gold prices going back centuries. The connection also reaches to the origins of central banks. The Sveriges Riksbank is the oldest central bank that still continues to operate, succeeding the … Continue reading

Economics / History

Aggregate Demand Dominance: Berlin’s Favelas

I’m not kidding—the disparities in Germany have become so acute that Berlin is ringed with favelas. The German media already recognizes this disturbing development: The Cuvrybrache: Berlin Favela   Between … Silesian road, Cuvrystraße and Spree has arisen this winter a shanty town. Drop-outs meet up with refugees and migrant workers. Photo: William Veder I … Continue reading

Aviation / History / Warfare

The Ghosts of Horrors Pasts Part 3: Turning Point

Yesterday was the 70th anniversary of D-Day for France’s liberation, but another momentous World War II event, possibly more significant than the Normandy invasion, also falls in this timeframe. The offensive the Imperial Japanese Navy sent against Midway was divided into many operations. The first was Operation Mo, the planned invasion of Port Moresby in … Continue reading