Understanding the yield curve

Of late there has been a lot of chatter about the so-called yield curve, usually to complain about its incomprehensibility. This lends an aura of mystery to it, which coupled with lore about its alleged capacity to predict recessions, turns it into a modern-day Urim and Thummim. But in … Continue reading

How to Understand Capitalism and Socialism

This has become a burning topic once again. Those of us who went through the Cold War thought it was dead and buried, but that has proven not to be case, nor could it be, if the analysis given here is correct. For socialism, unlike capitalism, is a matter of the heart. What that means, and what it … Continue reading