Krugman’s Magic Act | AIER

In a recent string of tweets, economist Paul Krugman talked about the government issuing either a trillion-dollar coin or “premium bonds” as a means of keeping its nearly seven-decade-long spending spree going. He argued that premium bonds were more likely because, “nobody understands premium bonds,” and “…(it’s) hard to get outraged over something that baffles […]

Warren Buffett is shaking Japan’s magic money tree

Shares in three of Japan’s five largest trading conglomerates reached record highs over the past week, following an announcement by Warren Buffett that he is keen to own more of their stock. It is just the latest good news for the firms. Itochu, Marubeni, Mitsui, Mitsubishi and Sumitomo Corporation have surged in value since Berkshire […]

The Dark Magic of Promotio Competitio

Promotio Competitio is a magic spell, more potent than many others. Neither Harry Potter’s Expecto Patronum, which drives away horrifying Dementors, nor Hermione Granger’s Obliviate, which made her parents forget that they ever had a daughter, can compare to the power of Promotio Competitio.  Promotio Competitio gives the government the power to justify any intervention […]