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Tag Archives: Switzerland

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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49 Countries Have Violated Sanctions On North Korea

A new report from the Institute for Science and International Security has found that 49 countries violated sanctions on North Korea to varying degrees between March 2014 and September 2017. You will find more statistics at Statista 13 governments including Cuba, Egypt, Iran and Syria were involved in military violations, which as Statista's Martin Armstrong notes, includes either receiving military training from North Korea or being involved in the import and export of military equipment....

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“Gnomes Of Zurich” In Panic As Saudi Corruption Crackdown Sparks Flood Of Money Laundering Inquiries

There are two divergent views on the crackdown on corruption by Saudi Arabia’s crown prince, Mohammed bin Salman (MBS), which led to the arrest and detention of 200 princes, ministers and former ministers. On one hand, it was a masterstroke which will earn political capital with the Saudi people and catalyse an Arab Spring in which MBS is a modernizing reformer who will liberalise Islam. On the other, it was nothing other than a cynical and desperate attempt to tighten his grip on power and...

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Frustrated Investors File Lawsuits Against World’s Largest ICO

Here's the latest sign that the massively fraudulent ICO market is headed for a collapse. Tezos’s investors are still waiting to learn when they can expect to receive the digital tokens that they paid a premium for during the company’s record-setting crowdsale. But as reports of abuse, internal strife and outright embezzlement have surfaced in the press, three groups of angry investors have filed class action lawsuits accusing the company of fraud and securities violations. In response,...

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