Money and Banking

I was amazed that when Muhammad Yunus, head of the state-supported, quasi-socialist, regimentation-promoting Grameen Bank, received his Nobel Prize

The absence of a central bank in Panama has created a completely market-driven money supply. Panama's market has also chosen the US dollar as its de facto currency. The country must buy or obtain their dollars by producing or exporting real goods or services; it cannot create money out of thin air. In this way, at least, the system is similar to the old gold standard. Annual inflation in the past 20 years has averaged 1% and there have been years with price deflation, as well: 1986, 1989, and 2003.

MAN Financial chief economist Dr Frank Shostak has a warning for investors.

From Portfolio.com:

In recent essays in Roll Call and the

Now that the housing bubble is starting to burst, it’s time to address the really important questions: whose fault was it?

The sham of socially responsible investing (SRI) is exposed in a recent New York Times

A correspondent on the LRC blog refers to the

The two birds: My wife’s desire for additional landscaping; and, your carbon guilt. It’s really simple.

The heady mix of human credulity and overeasy money was still producing the same old, intoxicating brew in the marketplace.