Costco is Selling Gold
I looked for price and cost. Costco sells 1 oz bars from Rand Refinery for $1,949.99. JM Bullion sells an equivalent for $1,874.81. Continue Reading →
Category Archives: Economic basics
A Primer on Demand Elasticity
“How does quantity demanded change in response to a price change?” We use price elasticity of demand. This is a primer on demand elasticity. Continue Reading →
Inflation For Dummies Part 2
A while back, I wrote Inflation For Dummies. Apparently that was too complicated. Here’s a simplified version: inflation for dummies part 2. Continue Reading →
Inflation For Dummies
Inflation is the rate of change in the average price level. As long as the inflation rate is positive, the price level continues to rise. Continue Reading →
Iowahawk on Student Loan Debt (and Debt in General)
But it’s important to understand what can and cannot be done with debt. Forthwith, Iowahawk on Student Loan Debt. Continue Reading →
Marginal and Average Explains Inflation Changes
The annualized month-to-month inflation (AMM) and the year over year rate (YOY) are the marginal and average. AMM > YOY, YOY should rise. Continue Reading →
Wall Street Journal Exchange Rate Fail
Wall Street Journal exchange rate fail. Ms. Feng thinks an exchange rate change from 7￥/$ to 6.9￥/$ is a ￥depreciation. That’s backwards. Continue Reading →
Money, Velocity, Levels, and Changes
Why did velocity decrease during the pandemic? What was the impact on monetary policy? How is the growth rate of M2 related to its level? Continue Reading →
Iowahawk Teaches Econ 1
If you never understood basic economics, David Burge (@IowahawkBlog) has put together a pretty convincing tutorial. Iowahawk teaches econ 1. Continue Reading →
Will There Be a Wine Shortage in 2021?
My guess: the global price elasticity for wine is -0.7. If 2021 output falls by 4.6%, the global price should rise by 6.5%. No wine shortage. Continue Reading →