Full and busy social calendar the past three weeks. Whitney, Joe and Dan up from Berkeley for Adam’s wedding. Adam is our sons’ friend from next door - “since they’s babies.” In effect our third son, except we neglected to sign adoption papers, and mutually so did Adam’s parents for Mr Joe and Mr Dan. Given that history the wedding day was charged ( Read more... )

Re-reading fiction. Cecelia Holland’s Floating Worlds (1976) and John Gardner’s Sunlight Dialogs (1972 ( Read more... )

The question was:
1) T/F The federal government spends borrowed money.

The answer is
1) Ans: False. Money is created by government spending.

One friend played by email and wrote
1) While I see it as borrowed, it is actually some sort of bond purchase arrangement.... Federal Reserve Notes ???With respect for this person’s forbearance, here’s an ( Read more... )

Just dismal ( Read more... )

1) The federal government spends borrowed money.
Ans: False. Dollars are created when federal government makes payments. Note: created, not borrowed.

2) The federal government spends tax collections.
Ans: False. Dollars are destroyed when federal government collects tax. Note: if you pay your federal tax in cash, it goes into a shredder.

3) The ( Read more... )

Feels like summer. School’s almost out. In honor of those clement facts here’s the money pop quiz, to see if you were paying attention last year.

T/F 1) The federal government spends borrowed money.

T/F 2) The federal government spends tax collections.

T/F 3) The federal government tax surplus, if any, is savings that is available to spend

Our youngest son Dan stood for his physics dissertation defense last week in Eugene. A technical talk to his doctoral committee, all academic scientists and researchers. Subject was his results of five years research at the Lawrence Berkeley Lab’s ALS (Advanced Light Source ( Read more... )

A kerfluffle last week with the barenaked harvard professors Reinhart and Rogoff exposed for publishing junk economics ( Read more... )

A quick trip to lovely California central coast. Cambria, Hearst Castle, Big Sur, Carmel, Monterey. We had visited in prior years working in San Jose and once in summer with our boys. But never visited in this lush green season. The air the light and the sea were superb, and nowhere more so than around Monterey and Carmel, probably the most ( Read more... )

Video with charts to show --
* extreme unequal global wealth.
* global money flows from poor to rich nations.

Click to view

Global elite money moves to financial centers of the largest safest economies. “Wall Street” and dominately to London’s corrupt and deregulated financial system ( Read more... )