by Steven Waechter
In the medieval era there was a rather odd ceremony; when a member of the lower social castes found themselves in dire straights, they turned to the landowning nobility. In exchange for land to work, the noble demanded a portion of the produce, availability for...
by Steven Waechter
About ten years ago, my savings account basically stopped paying interest. The rate of about two percent fell to something like one-tenth of one percent in 2002. Over the last ten years, people just seemed to forget the way things used to work – banks are...
by Steven Waechter
So far in this presidential election cycle I have seen both Gary Johnson and Ron Paul bluntly declare that the most serious problem we faced as a nation was that we are bankrupt. After hearing this comments I started reflecting on the nature and effects of bankruptcy,...
by Steven Waechter
Once again, a professional politician who believes that wealth comes from spending borrowed money has abused the patience of our nation and proposed another mechanism for wasting an enormous amount of money on a vaguely defined program which will accomplish nothing of...
by Steven Waechter
The economic relationship between the United States and China is often described as being “co-dependent.†The Chinese lend America money, and the Americans buy Chinese goods. If the Americans stopped buying Chinese goods, then people in China would lose their...
Page 5 of 7« First«...34567»