Category Archives: Economics

Sort of Deleveraging

One of the lessons we needed to learn from the Great Recession was that debt matters. And so began, we hoped, a period of economic deleveraging in which the total debt levels of our society would decline. This is never an easy process, but it is a necessary one. How are we doing? Households have shed...
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Printing Money Does Not Cause Hyperinflation

“With all this money we are printing, hyperinflation is going to nail us sooner or later.” — We have heard it said so many times now that the correlation of printing money to subsequent hyperinflation has become accepted as a common truth. It is not. There is an interesting aspect of human behavior that enables us...
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Lessons from the Great Recession

The recession that began in December of 2007 and, arguably, ended in June of 2009, has been dubbed the “Great Recession” — the deepest recession on record since the Great Depression. Now, more than two years later and according to a few signs I’ve seen, as many as 99% of us are still living with...
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