Monthly Archives: August 2015

Fiscal Inflation Targeting and the Cost of Large Government Debt Accumulation

“You know, Paul, Reagan proved that deficits don’t matter.  We won the mid-term elections, this is our due.” — Vice President Dick Cheney defending a second round of tax cuts against the objection of Treasury Secretary Paul O’Neill, shortly after … Continue reading

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The Trajectory of a Crash

It’s amazing to think that just last Monday, August 17th, the S&P 500 closed at 2102.  Today, it closed at 1868, falling 11.1% in 6 trading days.  The shocking speed of the decline has injected a level of fear into … Continue reading

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