Fixing the Student Loan Debt Crisis and Reforming Edcuation

From Demos: Why Education Does Not Fix Poverty The author lists some reasons why poverty has not fallen in spite of the US population becoming more educated: First, handing out more high school and college diplomas doesn’t magically create more good-paying jobs. When more credentials…

Donald Trump Wrong About Treasury Bonds

Even though Josh Brown of the Reformed Broker leans ‘left’, I agree stiffing treasury bond holders, hurting America’s credit worthiness and causing a multitude of problems in the process, is a bad idea: The whole world runs on the premise that US debt is risk-free…

Collapse Can Wait, Part 2

Aaron is right about America’s reserve currency status, and also there is the petrodollar in addition to the ‘flight to safety’ and other factors that are keeping interest rates low and the dollar high, all thanks to American exceptionalism. As bad as the US economy…

The Big Short: Market Genius or Luck?

There are a lot of finance articles lately due to the hype over the film adaptation of Michael Lewis’ book The Big Short. Interview with Michael Burry, Real-Life Market Genius From The Big Short Is he a market genius or did he just get lucky?…

Post-Labor Capitalism

In my post about conservatives being smarter than liberals, I ended on cliffhanger, leaving the solution open: Solutions are hard to come by. Simply getting rid of democracy won’t change the fact there are already millions of people dependent on govt. aid. I also discuss…

Economics Myths, Part 5: QE (Quantitative Easing) Misconceptions

Few subjects cause as much confusion as QE. The confusion arises due to the politicization of the issue, as well as common misunderstandings and misconceptions about QE that reverberate throughout the blogging/media echo chambers. There are three major misconceptions about QE: 1. QE is money…

The Economic Crisis Is In Brazil and Turkey, Not China

As the media goes on and on about a supposed ‘China crisis’, as if a 1% decline in China’s GDP growth constitutes a depression, Brazil was recently downgraded to ‘junk’ by Standard and Poors, meaning that Brazil’s economy, which is heavily dependent on oil, is…

Bailouts, Obama, and Debt

From Christopher Cant-think-well: And Then The Market Crashed Anyway He writes: You might recall that incident, when George W. Bush said he had “abandoned free market principles to save the free market system,” don’t you? Lotta good that did. Last time I checked, it may…

We’re Not Broke

The documentary We’re Not Broke went viral on Reddit. The synopsis is that the Republicans are wrong about America being broke, and that there would be more money for social programs and infrastructure if tax loopholes and other problems were fixed. Despite being on the…