Rebuilding Ukraine will require money, but also tough reforms
Ukraine suffered a brutal winter. Russia lobbed missiles at civilian and energy infrastructure, attempting to terrorise the population and cut off the green shoots of economic growth. It had some success. A sentiment indicator surveying Ukrainian firms hit a low in January. But as the country’s soldiers began their counter-offensive, so the economy pushed back. […]
Money Blindness and Money Clarity
“[Wittgenstein] once greeted me with the question: ‘why do people say that it was natural to think that the sun went round the earth rather than that the earth turned on its axis?’I replied: ‘I suppose, because it looked as if the sun went around the earth.’‘Well,’ he asked, ‘what would it have looked like […]
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 […]
Interest Rates, the Money Supply, and Say’s Law
Andy Kessler at the Wall Street Journal wrote an interesting column about the perils of stimulating demand in a supply-constrained environment. He argues, correctly, that expansionary monetary policy is more likely to create inflation when the economy’s supply side is flagging. He exaggerates, however, the power the Federal Reserve (and by extension any central bank) […]
Is It Wrong to Make Money by Helping Others?
Jack (@jbwells2 on TikTok) runs her store Jack’s Vintage on the secondhand fashion app Depop. She posted a video on Jan. 24 where she tries on a variety of thrifted clothes, modeling skirts and jackets that she would later post to her online store. “This right here is the best thrift haul you will […]
