n. Mental illness of such a severe nature that a person cannot distinguish fantasy from reality, cannot conduct her/his affairs due to psychosis, or is subject to uncontrollable impulsive behavior. (See here.)
The above is a legal definition as distinguished from the popular quote (misattributed to Albert Einstein), “Insanity is doing the same thing [...]
This article deals with the economic impacts of the earthquake in Japan. There are enough sources on the web that deal with the destruction and loss of life. We wish the people of Japan well in this difficult time.
Japan is having a grave crisis and the Bank of Japan (BOJ) [...]
I’ve noticed more articles expressing concern about deflation. In addition to this article today from the Wall Street Journal (Deflation Defies Expectations—and Solutions), there was another one today from the L.A. Times. The Journal piece was written by a good reporter, Jon Hilsenrath, but it demonstrates no real understanding of what deflation is. In fact [...]
I don’t mean to keep picking on Japan. But, they are the textbook case of why Keynesian economics doesn’t work. Actually, now that I think about it, they are the textbook case of why Austrian free market economics works. I have set them up as the poster child for bad policies. They have [...]
By Jeff Harding.
Angela Merkel’s Christian Democratic Union (CDU), a center-right party, with its political ally, the Free Democratic Party (FDP) won the Bundestag (lower house) elections. This has far-reaching implications for Germany. And, I think I’ll win my bet about which country comes out best in this economic crash.
In August I predicted Germany would [...]