Creative Capital

Who Says There’s Really “Prediabetes”?

I want to launch this post with a disclaimer — don’t do what I did. On the other hand, the usual advice — consult with your physician — might be even worse, for the reasons I’ll get to.

My Eureka Moment

So there I was in early 2015, six months after my heart attack and open heart surgery, taking 12 meds and being urged to add another two to the regime. Instead of rebelling, I was Mr. Goodpatient, passively doing whatever I was told, however insane it seemed.

Why We Don’t Take Our Meds (Again)

Recently, two journalists (Tim Harford and Simon Kuper) working for the Financial Times of London attended the FT Weekend Festival. The topic of their onstage conversation was “the nightmare of writing a weekly column.” Tell me about it.

Fed Folly and its Practical Effects

by Greg Curtis
“The… task of economics is to demonstrate to men how little they really know about what they imagine they can design.” –Friedrich von Hayek

The Fed’s Act of Cowardice

by Greg Curtis
We are talking about America’s Monetary Keystone Kops, who have, since 1987 (when Greenspan became chair of the Federal Reserve), been masquerading as central bankers. (Or maybe it’s the other way ‘round, it’s hard to tell.)

Bernanke’s Blunders

by Greg Curtis
We’ve assessed the successes and failures of central bankers in the 1930s. Now let’s turn our attention to their modern counterparts.

Why Gold Had to Go

by Greg Curtis
The “gold standard,” which prevailed in the developed world for many decades, simply means that some fraction of a country’s paper currency has to be backed by — that is, convertible into — gold. In the U.S. that fraction was 40 percent. Since a government on the gold standard can’t print money without increasing…

Central Bankers Then and Now, Part III

by Greg Curtis
Scholars of the Great Depression typically blame policymakers of the 1930s for failing to do four things:

The Great Depression vs. the Great Recession

by Greg Curtis
Subsequent to the Global Financial Crisis, U.S. GDP has grown, in the aggregate, 37%. During the period of the Great Depression, U.S. GDP grew, in the aggregate, 40%. In the 1930s, the U.S. economy declined 26% between 1930 and 1933 and unemployment rose to 25%. During the Great Recession the…

Central Bankers Then and Now

Not that anyone cares, but in these pages I’ve been highly critical of the “unconventional” policies pursued by every central banker on the planet since the Financial Crisis.

Shined Shoes Can Save Your Life: The Conclusion

It was now late winter of 1971 and I was running the traffic division at the 226th MP Company at Fort Benjamin Harrison, outside Indianapolis. In those days Fort Ben was the headquarters of the Army Finance School and the location of the Army Finance Center. The building that housed…

Shined Shoes Can Save Your Life, Part II

So there we were, in late 1970, having graduated from the U.S. Army Military Police Correctional Specialist Academy, the best-​trained prison guards in the world. We had been assigned to one of the worst prisons in the world, the stockade at Long Bình, Vietnam, better known as the Long Bình…

Shined Shoes Can Save Your Life

A few weeks ago, in a post about J. D. Vance’s book, “Hillbilly Elegy,” I mentioned in passing that I was convinced that having spit-​shined my Army combat boots may have saved my life. I didn’t elaborate, and since then several dozen people have inquired about that brief aside. So…

Why Democracy Matters

Just to make it simple, let’s define Europe’s “illiberal democracies” as those countries where elected leaders profoundly disagree with the liberal, inclusive, affluent worldview of the EU’s political classes.

The Media Has It All Wrong

I mentioned last week that I recently visited Switzerland, Austria and Hungary, and that if we think things have gone nuts in the U.S., we have no idea.
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