Check out London, Manhattan, Aspen and East Hampton real estate prices, as well as high-end art prices, to see what the leading edge of hyperinflation could look like.
The building block of every community is family.
Imagine how much capital a country like Argentina might attract - if instead of defaulting seriatim and affecting a pose of anger toward creditors, it borrowed responsibly and honored its obligations.
'What am I missing?' is a much more important question than 'How cool am I?'
It's true that monetary policy was too lax for too long, and the government encouraged lending to people who were unlikely to repay their loans.
The Orderly Liquidation Authority prescribed by Dodd-Frank should be repealed and replaced by an amendment to the U.S. Bankruptcy Code which would operate to prevent cross-default provisions from impacting derivatives books so long as mark-to-market payments are being made in a timely fashion.
'Inequality' has become the political theme/slogan of our time in both Europe and the U.S., yet political leaders do not even bother to consider that their own policies, which put the entire burden on central bankers to print money and drive up stock, bond and other asset prices, are actually exacerbating income and wealth disparity.
Derivatives trading should be standardized and as much as possible moved to clearinghouses.
A great deal of stupidity has chipped away at the massive advantages of Western civilization, which could terminally decline if it remains on the current path. But these problems can be solved - and swiftly - if the right leaders emerge.
It is a very bad idea for governments to create arbitrary and unfair outcomes, or outcomes resulting from the passions and whims of the government rather than from the law, just because they have the power to do so.
The Congo is very wealthy from oil money but is not paying its debts and at the same time is applying for special status at the World Bank. That's shocking and disingenuous.
