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The Money Confusion

…its zombie existence in the textbooks. Open your wallet again: Yes, you see things called dollars, but most likely you also see a piece of pallastic labeled Visa or Mastercard….

How Accounting "Constrains" Economics

…that conform to accounting identities and balances, but are nevertheless wrong. • Accounting tells us exactly nothing about how people will behave, nor can it cause or constrain that behavior….

Social Security & the Debt Limit

…background set, lets see how Social Security Trust Fund Operations interact with the Debt Limit. And the answer is simple, though a little counter-intuitive. If Trust Fund principal balances go…

The money quandary

…(see Federal Reserve release). One can argue about the merits of including credit cards balances as “money”, per se. However, the sharp reversal of revolving consumer credit, and likely through…