A lot of people are wondering why silver is not going up. It is quite simple. Gold is money, the one and only true money. Silver is not money, ceased to be money around 1870 or so. People are buying gold in expectation of an increase in monetary demand. The imminent collapse of fiat moneys will boost demand for gold, not silver. Why is gold money? Network effects. It is …
Category: economics
Why Are Finland’s Schools Successful?
Progressives suggest it is because Finland is so wonderfully progressive. However, a refugee from Finland took a look at that article, and reports that it is because progressives lie like rugs:
What is wrong with Haiti
Worse than cholera, worse than the earthquake, Haiti suffered a devastating influx of aid agencies and high IQ Harvard graduates with billions of dollars of aid money.
Stagflation August
While inflation has been running at an annualised rate of 3.6% over the past three months, higher than the Fed’s target 2%, said Brett Hammond, senior economist at TIAA-CREF, “in order to get the economy moving again, a little inflation isn’t a bad thing”. If Keynesianism is true, you are not supposed to have rising inflation and unemployment at the same time. It is only moderate stagflation, but it is …
Obama says it is not his fault
In a boring and unusually uncharismatic speech, Obama explains that America’s credit rating downgrade is not his fault, and it is not his job to fix it.
London riots
The police shot Mark Duggan in London, as they beat up Rodney King in Los Angeles. Likely Mark Duggan needed killing, and it was instant justice, or possibly not. There is disagreement over who fired first. Real violence, not astroturf mock violence, ensued. There have been three days of rioting, looting, and racist assaults by blacks on whites over much of England, and the riots continue.
The size of the difference between universalism and communism
Moldbug points out that universalist regimes such as the US government and its satellites, suppress dissent too, though by means less drastic and obvious than communist regimes, and that universalist regimes had disturbingly cozy relationships with communist regimes, were full of fellow travellers until there was no one left to travel with. He proposes, therefore, to call them all communist. But,
The prehistory of the left
Vladimir, Moldbug, and Foseti discuss the prehistory of the left, also known as the United States Government. Prehistory ends, and history starts, in the 1950s, because history before then got rewritten beyond recognition.
US federal government burn rate is 8% of GDP
The burn rate is a eight percent of GDP. Total debt is one hundred percent of GDP.
Science stagnating in the west
John Goodman reminds us: How many new drugs, Dr. Lajos Pusztai asks, were approved for breast cancer treatment in the past decade? His answer: seven. None was much different from drugs already on the market.