The left-hand scale is in $billions.
To quote Status Quo, "down down, deeper and down".
Saturday, June 27, 2009
Down
Read Brad Setser on the USA's deterioration in the net international investment position.
The left-hand scale is in $billions.
To quote Status Quo, "down down, deeper and down".
The left-hand scale is in $billions.
To quote Status Quo, "down down, deeper and down".
Thursday, June 25, 2009
Cash vs the stock market: an inconvenient truth
Tuesday, June 23, 2009
Inflation, not deflation
Jesse today, maintaining that inflation can indeed happen...
Our own view is that a serious stagflation with further devaluation of the US dollar as it is replaced as the world's reserve currency is very likely, after a period of slackening demand and high unemployment. A military conflict is also a probable outcome as countries often go to war when they fail at peace.
Tips?
From my own readings in this area, the people who tended to survive the Weimar stagflation the best were those who:
1. Owned independent supplies of essentials including food and shelter and were reasonably self-sufficient.
2. Had savings in foreign currencies that were backed by gold such as the US dollar and the Swiss Franc
3. Possessed precious metals
4. Belonged to a trade union and/or had essential skills or government position which guaranteed a wage
5. Were invested in foreign equity markets, and even in the domestic German stock market for a time
Our own view is that a serious stagflation with further devaluation of the US dollar as it is replaced as the world's reserve currency is very likely, after a period of slackening demand and high unemployment. A military conflict is also a probable outcome as countries often go to war when they fail at peace.
Tips?
From my own readings in this area, the people who tended to survive the Weimar stagflation the best were those who:
1. Owned independent supplies of essentials including food and shelter and were reasonably self-sufficient.
2. Had savings in foreign currencies that were backed by gold such as the US dollar and the Swiss Franc
3. Possessed precious metals
4. Belonged to a trade union and/or had essential skills or government position which guaranteed a wage
5. Were invested in foreign equity markets, and even in the domestic German stock market for a time
Sunday, June 21, 2009
US public debt since 1945 - inflation-adjusted
Sources: Treasury Direct, Robert Sahr. Click to enlarge.
Presiding over indebtedness... or as helpless as King Canute?
Presiding over indebtedness... or as helpless as King Canute?
A samizdat on Europe
How many Internet users in the UK, with their own printer at home or permitted some private use at work?
Why can we not design and post up a form - a petitition for a referendum, for printing-off and taking round for signing by work colleagues, friends and neighbours? With a request that everyone follows suit - downloads, prints, distributes and posts into a central address?
Or even an unofficial, but fairly-worded referendum itself?
Or are we indeed "entering a post-democratic age?"
So, never mind the Lisbon Treaty, that sly strategy to get us into the bedroom on some basis other than the consummation of marriage? Is it not time to seek democratic legitimation of the UK's membership of the EU per se?
Why can we not design and post up a form - a petitition for a referendum, for printing-off and taking round for signing by work colleagues, friends and neighbours? With a request that everyone follows suit - downloads, prints, distributes and posts into a central address?
Or even an unofficial, but fairly-worded referendum itself?
Or are we indeed "entering a post-democratic age?"
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