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Tag Archives: Switzerland

Fun on Friday: Oops!

Confession: I am prone to lose things.I spend an inordinate amount of time looking for my glasses. I had to put a big lanyard on my keys to help me keep up with them. There’s even a running joke with one of my best friends about the frequency of losing my car in the parking lot.But in all my years of losing stuff, I can’t match some poor soul in Switzerland. Last October, somebody left a package of gold bars on a Swiss Federal Railways (SBB) train valued at about $190,000.So, yeah, big...

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Countries are not anecdotes

Most of us know very little about foreign countries. Our lives are quite busy and we have only so much space in our brains to store information. I notice that people often think about foreign countries in terms of anecdotes. Thus if you mention Singapore, then people might say, “Isn’t that the place that bans chewing gum.” If you mention Saudi Arabia, they might talk about the fact that women are not allowed to drive (a ban that was recently lifted.) Even big, complex...

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Do spending caps work?

The news media tends to focus on problems.  Thus it’s refreshing to see an article that examines places where things have gone right. Veronique de Rugy has a piece in Reason magazine that looks at a variety of countries that have done well, including Switzerland: After public referenda in 2001, the Swiss government in 2003 implemented a new constitutional requirement aimed at ensuring a balanced annual budget through a cyclically adjusted expenditure ceiling. The...

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Inflation is about monetary policy

I continue to see all sorts of non-monetary theories of inflation. For instance, “demographics” is often cited for the low inflation rate in Japan. There’s a much simpler explanation for inflation—monetary policy. The following graph shows the exchange rate for three European countries, Denmark, Switzerland and Sweden: During this period, the Danish krone (red line) was pegged to the euro.  This meant that the Danish central bank was not able to adopt an independent...

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You Can’t Eat Gold, Report 14 Oct 2018

“You can’t eat gold.” The enemies of gold often unleash this little zinger, as if it dismisses the idea of owning gold and indeed the whole gold standard. It is a fact, you cannot eat gold. However, it dismisses nothing. This gives us an idea. Let’s tie three facts together. One, you can’t eat gold. Two, gold is in backwardation in Switzerland. And three, speculation is a bet on the price action. The fact that gold is inedible is supposed (by the enemies of liberty) to be proof positive that...

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News from Switzerland and Turkey

Trouble in Swiss Employment This story from Switzerland will be ignored, lest it generate cognitive dissonance. The mainstream looks at a few carefully curated statistics. I encourage you to do a Google search on “marginal productivity of debt”. My articles are all over the first page of results. This is not because I am such a prominent economist. Nor is it because this is a term I coined (e.g. “yield purchasing power”). It is because marginal productivity of debt does not sell the...

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China’s Raging Against Dying Of The Light (Or Why Peak Employment Is Imminent)

Authored by Chris Hamilton via Econimica blog, China's working age population is clearly defined as those aged 16 to 50 years old for females (55 for "white collar" females) and 16 to 60 years old for males.  China mandates retirement at these outer age limits.  Perhaps of some interest should be that this working age population peaked in 2011 and has been declining since.  This decline will continue indefinitely as China has a collapsing childbearing population (detailed HERE), net...

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Some Europeans Have Never Been Outside The EU

When it comes to holidays and travelling in general, Europe has a lot to offer. Cosmopolitan cities jam packed with culture, pristine beaches, excellent ski resorts, you name it. Given all of that, it comes as little surprise that many Europeans never travel outside the EU. As Statista's Niall McCarthy notes, the most recent Eurobarometer data showing the share of people who have travelled at least once outside the EU was published in 2014. You will find more statistics at Statista The...

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Debunking The Myths About An Attack On North Korea

Submitted by The Saker, First, the bragging dummies Trump and Haley are still at it.  They want to force China to take action against the DPRK by threatening to take North Korea “into their hands” if China refuses to comply.  Haley said, “But to be clear, China can do more, (…) and we’re putting as much pressure on them as we can. The last time they completely cut off the oil, North Korea came to the table. And so we’ve told China they’ve got to do more. If they don’t do more, we’re going to...

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Switzerland Is Well-Prepared For Civilizational Collapse

Authord by Alex Tabarrok via MarginalRevolution.com, More than any other country, Switzerland’s ethos is centered around preparing for civilizational collapse. All around Switzerland, for example, one can find thousands of water fountains fed by natural springs. Zurich is famous for its 1200 fountains, some of them quite beautiful and ornate, but it’s the multiple small, simple fountains in every Swiss village that really tell the story. Elegant, yes, but if and when central water systems...

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