Zero Hedge reports today (with The Daily Mail) that ISIS has allegedly released a video extolling the virtues of a gold standard and denouncing the Federal Reserve System.
As the political campaign of Hillary Clinton continues to run aground, Democrats are flocking to the campaign of Bernie Sanders, the self-described “socialist” US senator from Vermont, who has been a fixture in that state for more than three decades. Not unlike the presidential campaign of Ron Paul, Sanders is drawing large, enthusiastic crowds who are very receptive to his message of increased state control of the US economy.
Those who are familiar with money supply stats know that M2 is the usual go-to money supply metric for observers of the money supply and its growth. Investopedia has an explanatory video of M2 here. Basically, M2 is this:
The Mainstream View of Money Velocity
According to popular thinking the idea of velocity is straightforward. It is held that over any interval of time, such as a year, a given amount of money can be used again and again to finance people’s purchases of goods and services. The money one person spends for goods and services at any given moment can be used later by the recipient of that money to purchase yet other goods and services.
It’s been noticed more than a few times that there aren’t many substantive differences between the Republicans and Democrats. While this is true in many ways for the parties themselves, the Left and Right certainly differ on a range of issues from welfare to abortion to gay rights.
Stock market corrections are by definition deflationary events. The financial press seem to understand this. They’ve even started referring to “bubbles” once again with regard to recent shocks in US and Chinese stock markets. But they never explain what caused the rapid inflationary rise in equity prices to begin with. Somehow this is a mystery, since many economists insist that QE doesn’t cause inflation.
In his article on markets and science, Matt McCaffrey notes that without the market process, there’s no way of knowing what types of science are the most useful:
More importantly, when science is separated from the market, it loses access to economic calculation, and thus, the ability to rationally allocate resources. That means that even with the best of intentions, scientific efforts to choose the most socially useful science, and to improve human welfare, are doomed to fail.
A selection from Chapter 42 of Economic Controversies.
Over time, the claim that there is increasing income inequality globally has looked increasingly like a fairy tale. The assertions of inequality consist of the popular notion that the spread of capitalism leads to an immense increase in income inequality. The differences between rich and poor, we are told, are rising so fast that the situation is no longer sustainable. The narrative further asserts that there is an intrinsic tendency in capitalism toward inequality. This story is so often repeated that nobody questions it.
