Category: Inflation

When the gimmicks run out: Part 2, ‘They want us to die’

26 February, 2013 (18:17) | Argentina, Capital markets, Inflation, New York, Pensions, Speculation |

[Continued from yesterday's Part 1.]   By:David A. Smith                                Yesterday’s post introduced us to New York’s state budget problems (via a this New York Times (December 19, 2012) article), which over the last decade or so have been covered up with ‘fiscal gimmicks,’ all of which have now been exhausted – all but one, […]

When the gimmicks run out: Part 1, whims of the financial markets

25 February, 2013 (17:34) | Argentina, Capital markets, Inflation, New York, Pensions, Speculation |

By:David A. Smith   Though you cannot fix a solvency problem with financing, that doesn’t stop people from trying – especially elected officials.  Perhaps they’re unable to visualize or to believe in the insolvency to come, or perhaps they know their term of office will be shorter than the time horizon when the gimmicks finally […]

The specter of hyperinflation

20 February, 2013 (09:30) | Capital markets, Currency, Democracy, Dictatorship, Economics, Egypt, Housing, Hyperinflation, Inflation |

By:David A. Smith   Having worked in Egypt multiple times over the last eight years, I have good professional colleagues and friends in Cairo, so I’ve followed attentively the nation’s turmoil after newly elected President Mohammed Morsi started his campaign of grabbing power.  Whatever the politics of it (and I’ve been in the Middle East […]

Might as well outlaw doubt

28 September, 2012 (09:15) | Africa, Angola, Capital, Currency, Ghana, Global news, Inflation, Markets, Money, Policy, Regulation, Zambia |

By:David A. Smith How confident are you?   Among the many reasons that money, that is the portable and numerical denomination of freely tradable symbols of value, is one of humanity’s greatest inventions (mathematics is discovered, money was invented) is its power to rebalance power between questionable rulers and poor people – and, as shown […]

Needs must: Part 2, tell me thy reason why

30 November, 2011 (12:13) | Bankruptcy, Inflation, Investment, Markets, Municipal finance, Rhode Island, Sovereign bankruptcy, Speculation, US News | 1 comment

[Continued from yesterday's Part 1.]   By:David A. Smith   Countess: Tell me thy reason why thou wilt marry. Clown: My poor body, madam, requires it: I am driven on by the flesh; and he must needs go that the devil drives. – All’s Well That Ends Well, 1601   Yesterday we saw, via a […]