A decade or more ago, I began to discuss with associates the possibility of governments and banks colluding to eliminate physical cash. Back then, the idea struck most everyone as poppycock, that governments could never get away with it.
Betting on a Pair of Deuces
I’ve never been much of a gambler. On the rare occasions I’ve played poker, I almost always came out ahead, but I almost never bluffed and, probably more important, I always played with amateurs like myself, never with players who really knew what they were doing.
Democracy Is The Ideal Distraction
In the days of yore, there were kings. Everybody could agree to hate the king because he was rich and well-fed, when most of his minions were not.
On The Ground In Hong Kong
Throughout the world, the media televise weekly reports on the protests in Hong Kong. Developments have remained highly visible, courtesy of regular demonstrations that take place like clockwork, every weekend in the business district of the city.
All It Takes Is a Slipup or a Nudge
Just prior to a war, the majority of people in the nations that are about to become involved tend to assume that another nation is threatening theirs, whist their own leaders are doing all they can to avoid conflict. This is almost never the case.
Government-Enforced Racism and Sexism
A half-century ago, the US was the envy of the world – the Land of the Free, where virtually anyone could prosper, if he were willing to roll up his sleeves and work.
Dinner in Hanoi
“Trump is doing the right thing. Without him, we have no protection against China. China doesn’t only wish to dominate Asia, but the world.” Here in Hanoi, so said my dinner companion – a major manufacturer and worldwide exporter of steel products.
The Misconception of the “Man of System”
In 1759, Scotsman Adam Smith, who is widely regarded as the world’s first true economist, published his first great work, The Theory of Moral Sentiments. In it, he postulated that all social evolution can be attributed to “individual human action,” as opposed to “individual human design.”
Following the Greater Depression on eBay
Careful research into an economy can result in a relatively accurate prognostication, the timing is always the most difficult aspect to pinpoint.
Infectious Insanity
In any country, during prosperous times, the great majority of people go to work each day with the understanding that productivity results in an improved life. Even for those of humble means, the existence of prosperity around them is a daily assurance that, if you work hard and/or work smart, your life will steadily improve.