If you are born before the year 2000 you grew up with one rule: save money and earn interest. Especially our German fellows are very committed to saving money in ordinary savings accounts. They stashed away €2 trillion or 55% of GDP, in ordinary bank savings and term deposits. The krauts are saying no to […]
Economic Theory
James Turk: We’re Living Within A Money Bubble of Epic Proportion
James Turk believes the time we live in now will be studied by future historians for generations to come. Just as we today marvel at the collective madness that resulted in the South Sea and Dutch tulip manias, our age will be known as the era when society lost sight of what money really is. […]
Inequality – some recent comments from the pope, Obama & Paul Krugman
First watch this video, a discussion between Paul Krugman (Professor of Economics and International Affairs at Princeton University, a 2008 Nobel laureate, and an Op-Ed columnist for the New York Times) and Sir Tony Atkinson, Professor of Economics at the University of Oxford, Then read this very powerful statement of the pope about inequality here. Some for the […]
Wealthiest family in America by Jamie Johnson and Nick Kurzon
The One Percent is a 2006 documentary about the growing wealth gap between America’s wealthy elite compared to the overall citizenry. It was created by Jamie Johnson, an heir to the Johnson & Johnson fortune, and produced by Jamie Johnson and Nick Kurzon. The film’s title refers to the top one percent of Americans in […]
negative interests rate – winter is coming
If you have been following the economic news, you might have heard about Larry Summers speech at the IWF. He essentially says that to reach full employment we need a negative interest rate. Yes, you read that right. People hoarding money on bank accounts should be punished for saving. His argument makes a lot of […]