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

Current / Economics

Swiss Options

Before I dive back into the history of economics as it pertains to the last 60 years (that’s a mouthful), I bring back some suggestions from Europe. To the United States of America—get off your butt and create a North American equivalent of the Schengen Agreement with Canada. Europe figured out that French, German, and … Continue reading

Current / Economics

Get Back to Work!

Sorry, I’ve been laughing myself hoarse for four days straight and I have neglected to write anything about House Majority Leader Eric Cantor being defeated…in a Republican primary. I’m laughing just writing that sentence. But it isn’t fun and games. I think Martin Longman is right on the money: But it’s true that these white, … 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