What does a credit rating mean?
byCredit ratings agencies have come under fire for not being proactive enough in recognizing bad sovereign risks. Even if the ratings agencies were a…
2012 outlook
byThis time last year, while still bullish out of regard for the effects of the Fed’s latest burst of monetary pharmacology, we had begun…
Gold and silver price shakeout
byThe consolidation of gold’s bull phase from October 2008 to the peak last September was a classic three-leg correction: an initial slide, rally, and…
Aggregate nonsense
byThe economic policy debate is dominated by wishful thinking and fallacies of the most dangerous kind, propagated no less by the high and mighty…
What the classical economists knew and the moderns have forgotten – part 2
byOn Wednesday, I talked about the forgotten wisdom embodied in Say’s Law. Today, we reprint the chapter called “Keynes vs. Say’s Law” from Henry…
Mal-investments small and large
byIn yesterday’s article I emphasised that it is profit that is beneficial, not revenue. I’ve just read an excellent article (H/T Sean Corrigan) by…
What the classical economists knew and the moderns have forgotten
byAt times of recession, like we have today, a range of dodgy economic ideas that have been refuted several times over during the last…
Big Brother loves you!
by“All within the state, nothing outside the state, nothing against the state.” Benito Mussolini Those who have eyes to see and ears to hear…
A challenge for 2012 – part two
byA challenge for 2012 – part one was to read The Theory of Money and Credit by Mises on its 100th year anniversary. The…
Beyond the Mondragon experiment
byWhen Labour peer Maurice Glasman recently went on BBC Radio 4 with TCC’s Detlev Schlichter I was disappointed and a little taken aback to…