Anthony Daniels, aka Theodore Dalrymple, the greatest living essaying and social commentator, delivers a lecture on The Moral Roots of Economic Crisis
With no formal economic training, he nonetheless identifies credit creation as the source of speculation. At no point does he delve into an attack on central banking, instead he focuses on the moral questions.
Personal Spending Jumps More than Income in March
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Disposable (after tax) income rose 0.5 percent in March. Real (inflation
adjusted) income rose 0.2 percent. The rise in spending outpaced the rise
in income.
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