Gresham’s Law (i.e., bad money drives out good money) is often and peculiarly cited by opponents of specie-backed currency. According to Gresham’s law, the existence of a competing yet inferior currency will ultimately result in widespread use of the inferior currency as people hoard the superior currency. The subtle point which is overlooked [...]
I watched the price of gas at the pump decline between 40 and 50 cents per gallon over the past week to 10 days. Nobody is talking about that, though. To everyone who says things like, “Prices never fall as quickly as they rise,” how does that humble pie taste?
This post is the tentative conclusion to a series of posts, loosely about the sorts of pseudo-scams that credit card companies use to keep borrowers in debt, which series began as a response to an article I read in Business Week. After all, the fact that most credit card debt collection is an outright scam, [...]
A loan necessarily implies the temporary, conditional surrender of an asset (generally accumulated savings) to another person. There is always some risk that it will not be returned or that you will not be properly compensated per the agreement. But loans are granted on faith, and on the expectation that the lender will, in [...]
