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Category Archives: Economics in the Age of Fiat Money

A New Economic Paradigm

Since the 1980s, a culture of debt has arisen in the United States. That change was the consequence of a misguided trade policy that gave

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BERNANKE’S CHOICE

For twelve years the US trade deficit financed the US budget deficit and held down US interest rates. From 1996 to 2008, the US trade

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