A couple of our gentle Bears have suggested that I repost this over here. Ask and ye shall receive. It’s a good complement to and demonstration of the point I tried to make in my last post. From Mike Konczal: Their model is obviously telling them that whatever (non-)actions they’re taking at the moment will solve […]

Let’s start with the basics: Increased inflation results in (in a sense, is) a wealth transfer from creditors to debtors. Debtors get to pay off their loans in less-valuable dollars — dollars that can’t buy as much real-world stuff, stuff that humans can consume, that they value. If you’re holding a hundred million dollars in bonds — […]

Let’s start with two basic facts: • Governments in all thriving, prosperous countries tax/spend 25–50% of those countries’ GDP (averaging around 40%). • Governments in non-prosperous countries — those that haven’t suffered a recent crash in the numerator/GDP — are all below that range. There is not a single thriving, prosperous country that does not […]

In my first post here as an official Bear, I want to start by thanking Dan Crawford and the rest of the Clan of the Angry Bear for inviting me to join the party. I’ve been a regular lurker and occasional commenter for years, and have learned a huge amount from the experts here. I’m […]

Steve Roth is a serial entrepreneur whose businesses have ranged from book and magazine publishing to high-tech professional conferences to corporate services. Steve’s publications include “Capital in the American Economy Since 1930: Kuznets Revisited,” an appendix to James Livingston’s Against Thrift: Why Consumer Culture is Good for the Economy, the Environment, and Your Soul. That […]