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- The Vulnerability of Private Wealth to Government Financial Stress
QEs, Currency Wars, the Trillion Dollar Platinum Coin and the Route to “Modern” Inflation
A government faced with financing its deficits in quantities some multiple of private saving must resort to monetary schemes in order to keep its promises to spend. Monetary schemes are essentially costless ways to pay the government’s bills today while … Continue reading →
About the Spellman ReportLew Spellman is a Professor of Finance at the University of Texas McCombs School of Business. The Spellman Report seeks to interpret current and future trends in the economy and financial markets from the perspective of history, theory, policy and market expectations.
Tag Archives: Income redistribution
This week, President Obama unveiled his proposals to enhance economic growth, create quality jobs, and create fairness in income distribution an approach he calls growing from the “middle out.” His plans call for income redistribution under the guise of income “fairness” that might reduce differences in income but at a cost of lower income for all. These lessons of the “isms” were learned centuries ago and relearned after the Great Depression but seemly must be relearned again. This will be an expensive education of a President. Continue reading