The total incompetence of people in charge of the US economy .[embedded content] Absolutely gobsmacking! Jared Bernstein — the chair of the United States Council of Economic Advisers — obviously needs some good advice about the way monetary systems work. Here’s a book he could start his educational tour with:

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Banking's Italian Roots?

   Pubblicato su BRAVE NEW EUROPEThe endless TARGET2 saga Sergio Cesaratto, Eladio Febrero, George Pantelopoulos* TARGET2 imbalances seem to be an endless source of controversy. At the beginning of the last decade, Hans Werner Sinn claimed that T2 imbalances served to fund current account deficits forgetting the responsibility of German mercantilism. Last week Eurointelligence raised the question of presumed onerous interest payments burdening the southern countries with TARGET2...

Western “Values” … | Homeless on the High Desert Dog named Cricket got a raw deal from an owner who could not train it, so took the easy way out. And she wants to be in the White House? ~~~~~~~~ Donna asked me about this the other day and it doesn’t seem to be going away First, let’s establish a couple of things: I am from Way Out West, from Eureka! California to Eureka! Montana; grew up in a logging, lumber and ranching town and my first...

Government Debt: An Eye-Opening Lesson

A comment on an AB thread recently reminded me that I needed to update my understanding of the economics of long-distance travel by plane vs car:“In 1970, flying was twice as energy intensive as driving, but that has reversed. In 2012, the most recent year counted, driving one person one mile took 4,211 BTUs, while flying required just 2,033.“The numbers for driving are based on the average fuel economy of all light-duty vehicles (that’s passenger...

Unleashing Passion: Shattering Science's Paradigms

A while back, I exchanged emails with the International Energy Agency. My goal was to find out what I could present, what I could not present, and also gain permission to utilize their charts and detail. They said yes. The detail here is on EVs in general and what countries are doing the most. As you may expect, China is ahead of the curve. I would say the US is still trying to get it right. I need to look a bit deeper into these reports as there...

Each year in retirement, we take a certain amount of funds from our IRAs and it becomes income. This is a bit different than when we were paying regular income taxes on our yearly income minus investments. I was curious about this as the big story today is rich people slugging away thousands and maybe millions into investments. The investments grow and are not taxable until withdrawal (unless there is another way to avoid taxes). These are smarter...