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    • What Negative Interest Rates Mean And What We Should Do
      Alright, so Germany has now introduced a zero interest bond. That means, given inflation, people will get back less effective money than they started with. At this point, outside the US, the average interest rate is negative. As Stoller pointed out, that means that people with money can’t figure out anything productive to do with […]
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We now begin the chaos portion of our program

Did you see the front page of the NYTimes this morning? It’s looking pretty grim. There’s Ferguson, the resignation of Chuck Hagel accompanied by harsh words about Obama’s national security policy, and the soaring costs of generic drugs. I told you guys that generics were going to start increasing in price a couple of years ago.

Is it just me or does it seem like the whole shebang is unravelling rather quickly these days?

Now, I’m not going to say that all of these problems are due to Obama’s naivete, inexperience and incompetence. But I think it is time we put a mute button on anyone proposing we replace him in 2016 with yet another untested, inexperienced first term senator just because they can’t stand, and have a visceral reaction to, the most logical alternative.

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