Inflation changes our perspective of many things, especially numbers. Richard Feynman stated: “There are 10^11 stars in the galaxy. That used to be a huge number. But it’s only a hundred billion. It’s less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers.” The path of [...]
Archives for November, 2009
Obama and His Cardiff Giant
This post originally appeared on American Thinker today. The Cardiff Giant, known as “America’s Greatest Hoax,” has new competition for the title — Global Warming. Recent revelations of what appear to be doctored data, corrupted scientists and pressured peer reviews have produced terms such as climategate, climaqquidick and similar pejoratives. Describing the events of the [...]
Top 10 Corporate Frauds
A list of the corporate frauds in order of size. The article was originally posted on July 30, so it is probable that Fannie, Freddie and AIG have moved up the rankings. Top 10 Most Expensive Corporate Frauds of the 20th & 21st Centuries Posted on 30 July 2009 The last decade has seen an [...]
Inflation or Deflation
Prices do not all move in the same direction or at the same time. That is pointed out in the quote below: “Investors who believe we are living in a deflationary period should ask themselves a simple question: why are grocery prices and gas prices and hairdressing prices and insurance costs continuing to rise? What [...]
Wisdom: Hazlitt on Housing
Here is a perfect description of our housing crisis. The only thing missing is a reference to “liar loans.” The author should be forgiven for the absence of this minor detail because the quote is over sixty years old. Given the character and integrity of Henry Hazlitt, it was probably impossible for him to foresee [...]
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