Bitcoin Won’t Work. I’m Really Serious About This.

I’m going to publicly forecast that Bitcoin isn’t going to work.

Apparently the market price of a Bitcoin has reached the $600 mark. Is Bitcoin just like other money or commodities, or not?

There are two important factors 

1 ) Will a military accept Bitcoins as payment?

No. (Although if a military ever did, that might change things)

2) Does it have any useful physical properties?

No. It isn’t shiny, it isn’t pretty, it ...

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Interest Rates Are Not Sure to Rise

It really, truly, is not a sure bet that interest rates will rise in the near future, although most people you ask would beg to differ.

Interest rates are up a bit this year. Does that mean they will keep going up?

I remember in 2002 when interest rates hit record lows. The general narrative at that time was, if we knew one thing, it was that rates would be ...

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Krugman & Fama – Sometimes Krugman is the Troll

Paul Krugman recently wrote a short post “Don’t Feed the Trolls,” in which he explains why he doesn’t continually respond to Niall Ferguson’s attacks. Basically Krugman says that continually responding to the attacks is a waste of time and serves to feed the other side.

Good point. Actually it is a great point. With all the mud slinging that goes on in the blogosphere, you really have to pick and choose what ...

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Common Sense Hedge Fund – Performance Worse than the Prostitution

A hedge fund manager right here in Portland, Oregon was recently arrested for soliciting a prostitute.

On top of that, many of the hedge fund’s clients are now pulling out their money. This company had roughly $3.2 billion under management – a huge amount of money that translates into the hedge fund manager making an outrageous amount of money (for themselves – not necessarily for their investors).

I know a lot ...

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Debt Limit Debate is as Old as the Country

These two just won’t stop fighting.

Over two hundred years since Hamilton got himself killed, I can hear Jefferson and Hamilton continue to fight via the words and arguments being tossed out over the debt limit. Mostly I hear Jefferson coming from the camp that is contemplating whether or not it would be a “big deal” if we ran up to the limit. Answer: Yes, it would be terrible.

I am horrified by the casualness with which they toss around ...

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The President Should Ignore the Debt Limit

That’s right. If we get to the debt limit, it should be totally ignored.

What the President should do

Here is an explanation of what the President should do and why he should do it if we go over the debt limit.

Please understand that I am not writing this in support of one party or another. This has nothing to do with whether or not I think the Affordable Care Act is a good idea. I am also not ...

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US Debt Ceiling – From Another Perspective

Congress just keeps fighting and fighting about the federal budget – and the debt ceiling is rearing its nonsensical head again. I continue to believe this whole US public debt issue needs to be understood from the reverse perspective.

I recently wrote a post on the size of US public debt and why I don’t think it is as large of a problem as many would have us believe.  I also ...

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Harry Binswanger Hijacks Real Capitalism

Harry Binswanger is completely misguided in his article that the 99% should give back to the 1%. His argument is not that we should have a less progressive tax, not that we should have a flat tax, not even that we should have regressive tax, but that “anyone who earns a million dollars or more should be exempt from all tax.”

Henry ...

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