Category Archives: Money


Venezuela’s Currency Manipulations Are Destroying Their Economy

Pretty. Worthless. From the WSJ: Currency Chaos in Venezuela Portends Write-Downs The Gentleman Economist once visited Venezuela, enjoying Caracas, Merida, Angel Falls, a quiet Andean village and a jungle adventure involving riverside hammocks and three days in handmade dugout canoes. Being an … Continue reading

Posted in Corruption, Crony Capitalism, Currency, Economics, Inflation, Markets That Won't Clear, Money, You're Not Helping | Tagged , , , , , , , | Leave a comment

Three Cheers For A Housing Market Recovery, Maybe

Price reduced? Good news for one third of Americans, but not for Peter Dreier From the NYT: What Housing Recovery? In the New York Times Opinion Pages Peter Dreier (Professor of Politics, Urban and Environmental Policy at Occidental College) bemoans that not … Continue reading

Posted in Adverse Selection, Economics, Geography, Housing, Inflation, Markets That Won't Clear, Money, Moral Hazard, You're Not Helping | Tagged , , , , , , , , , | Leave a comment

Flash Boys: A Wall Street Revolt, by Michael Lewis

For 300 million dollars, your web browser could receive this post three milliseconds faster I’ve just finished reading Flash Boys: A Wall Street Revolt by Michael Lewis, an exposé on the rampant parasitism at the core of the U.S. stock … Continue reading

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When Fakes Are More Valuable Than Originals

 You’d feel cheated if they were real My first thought was why would anyone pay $3.49 for a set of 100 obviously fake U.S. pennies.  Then I realized it might be their inherent lack of value that makes them so … Continue reading

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A Night at the Fights

Watch the feet Last night I went to see the Thai kickboxing fights at Bangkok’s famed Lumpinee Boxing Stadium.  Out of respect for the memory of Rodney Dangerfield, I secretly hoped a hockey game would break out. First, however, was the … Continue reading

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Learning About The Federal Reserve From The Monopoly Board Game

 Just ask Ben Bernanke

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Why Has Inflation Remained So Low?

Spend your stimulus money here (See previous posts on inflation.) A major argument against economic stimulus is that sooner or later all those extra dollars sloshing around the economy will push up prices and debase the currency.  It seems inevitable, … Continue reading

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Culture Matters: Pakistan’s Electric Power Problems

From the NYT:  Pakistan Faces Struggle to Keep Its Lights On  I think I found the problem From the article: Electricity shortages, bad for years, have reached crisis proportions. Lights go out for at least 10 hours a day in … Continue reading

Posted in Corruption, Culture Matters, Discount Rate, Economics, Free Rider Problem, Geography, Money, Technology, Tragedy of the Commons | Tagged , , , , , , , , | 1 Comment

Matthew O’Brien of The Atlantic with a Different View On Inflation

From The Atlantic:  This Is the Biggest Mistake 60-Year Old Men Make About the Economy Who are you calling a 60-year old man? (Previous post on inflation here.) The Atlantic’s Matthew O’Brien criticizes Michael Kinsley’s argument for austerity over stimulus, joining … Continue reading

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Parmesan Cheese As Loan Collateral

Keep bringing the Parmesan until the banker says stop From the BBC:  Italian producers bank on cheese After the hard work of making Parmesan cheese, Italian producers need to wait for two years of ageing before it’s ready for market.  In the … Continue reading

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