For the next few years, the increased debt financing of the United States will not be a problem for markets. That will remain the case as long as the US dollar is the unchallenged world reserve currency, as it has been for decades. When you survey the world and look at other countries’ economic systems and current situations, the US emerges as the best or, if you are a hand-wringing detractor, the least troubled.
The modern Greek odyssey continues with a dance of fireflies. This particular version is dedicated to a different Homer. We are speaking of the late Sidney Homer and his treatise on interest rates. His book, A History of Interest Rates, graces libraries around the world. Homer’s great contribution to the history of finance and economics […]
The drachma, the Greek currency, is over 3000 years old. It was the most widely circulated coin in the world prior to the time of Alexander the Great. Readers may enjoy a few minutes of study about Alexander the Great. His Macedonian army conquered Persia and much of the rest of the ancient world. His […]