According to Wikipedia, the Economic Calculation Problem as coined by Austrian economist Von Mises states:
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[…] pricing systems in socialist economies were necessarily deficient because if a public entity owned all the means of production, no rational prices could be obtained for capital goods as they were merely internal transfers of goo
Scott Adams, Dilbert cartoonist, calls him a “master persuader”.
Perhaps it’s time to give credit to the fashionably unlikable president and acknowledge that Trump knows how to talk. It’s probably also time for most hardcore partisans, whether they are for or against Trump, to start looking at issues pragmatically rather tha… Read more
As a follow-up to yesterday’s article, let’s shift focus to the debt-spending tactics of the federal government, whose nefarious end goals are the same as the Ontario provincial government, but are much more transparent.
Finance Minister Bill Morneau is a little less careful with his words as the ulterior motive behind their so-called R… Read more
Psychology in the short run, fundamentals in the long.
The notes from new Federal Reserve chairman Jerome Powell hinting at strong economic numbers are driving up the stock market and the U.S. dollar, continuing the unprecedented uptrend since the inauguration of Trump and his administration.
Persuasion is in full force, as investors and speculators ar… Read more
Any Canadian poker player that has spent time in other card rooms, particularly those in the United States, can attest to the stark difference in dealer quality based on the gratuity system enforced by the card room.
In the OLG casinos in Ontario, dealers in general (with a few exceptions) are notoriously bad. Speed and competency are severely lacking, and a… Read more
In my article from several weeks ago, Netflix and BitCoin have disturbing similarities, I conjectured that Netflix will be a big loser in a stock market upheaval:
My issue with Netflix is its irrational valuation. When the inevitable pop in the bond and stock market occur I fully expect this stock to be the biggest loser of the FANG stocks.
Fast forward a few we… Read more
New lending rules may have curtailed big banks from issuing risky loans, but Canadians in their everlasting effort to keep up with the Joneses, will go to any length to make sure they are as indebted as their neighbours.
If Trudeau’s “peoplekind” video was a Try not to cringe challenge, I lost almost right away
As soon as I heard the words “we say peoplekind, not necessarily mankind”, I shuddered, winced, reflexively hit Ctrl+F4 and buried my face into my palms. I then forced myself to watch the video in its entirety.
The number of cheering d… Read more
It’s hard to ignore the financial news from yesterday: cryptocurrencies with another double-digit percentage drop, stock markets dropping about 5%, volatility up 100%.
With regards … Read more
Until this modern take of Keynesian economics is no longer pushed as the standard of financial “wisdom”, debt-fueled economies will continue to relive these progressively worse economic cycles, with every bubble burst being much worse than the last.