Picture the scene. It’s 2020. You’re at the checkout in a convenience store with a carton of milk. But you’ve got no cash and you’ve left your cards at home. No problem. You scan your right index finger; the green light flashes. Purchase approved and you leave. Easy. Is this a realistic vision of the …
As the world gets more digital, people forget about the benefits of transacting in cash. And government officials know that.
Now, this is sheer entertainment. The Chicago branch of the Federal Reserve has addressed the great monetary question of our day. A researcher has taken a detailed look at the prospects for market-based crypto-currency, with a special focus on Bitcoin. It concludes that Bitcoin is not a viable replacement for the dollar. The report includes …
While the world has evolved over the centuries, human emotions have remained the same — happiness, sadness, jealousy, greed, fear. The ruling class and working class are equally afflicted by these emotions. Seeking the easy option is another human frailty that has stood the test of time. It is for these reasons we are destined …
Stocks settled down recently. The Dow dropped 40 points. Either the market had already priced in “QE forever”… or investors are starting to wonder. Maybe an economy with falling household incomes is not a good place to own stocks. Maybe an economy that is barely growing doesn’t justify the highest stock prices of all time. …
During the last debate, Mitt Romney emphatically stated he would blast China for manipulating its currency the first day he takes office. Talk about priorities. Of all the nation’s pressing issues, the minute the oath is over, he’ll be calling out China for manipulating the yuan. A remark like that should cause exasperation for anyone …
The Fed’s latest inflationary scheme sounds like a technocratic innovation. It lowered the costs of currency swaps between central banks of the world, with the idea that the Fed would do for the globe what Europe, England and China are too shy to do, which is run the printing presses 24/7 to bail out failing …