Sorry, we’ve run out of ammo
June 18, 2022Inflation and deflation lead to the same conclusion: the loss of buying power. Up until the very recent past, deflation was caused by outsourcing to developing nations combined with rising global debt levels. Having tried – sometimes desperately – to revive inflation, the central banks got more than they’d bargained for but were also…
Colonizing by Lending
October 14, 2021Colonisation is no longer what it once was. Actually, it just doesn’t use the same means anymore. Nowadays, to colonise, you lend, and that’s how you enslave. Over history, the debtor’s inability to pay has been used as an excuse to engage armies, like the British invasion of Egypt in 1882 because the country…
Where have the bankruptcies of yesteryear gone?
June 28, 2017Adam Smith said it: governments never pay back their debts. Owing to the industrialisation, modernisation, and globalisation of economies, the private sector has also joined the public sector in rarely paying back its debts. Throughout the history of governments – and history itself – defaulting on payment was a sort of smaller common denominator which…