Meraglim Blog

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By now, you’ve heard about the government of India’s decision to make 1,000- and 500-rupee notes worthless. A 1,000-rupee note is worth about $15.00, not exactly the equivalent of a $100 bill. What happened in India is the same as waking up one morning in the U.S. to find that President Obama had declared $20

Governments are insatiable when it comes to taxing their own people. Periodically a rough equilibrium is established between taxes and government spending, but governments then proceed to break the truce by increasing spending and trying to collect even more tax. While governments always talk about “taxing the rich,” the truth is that taxes are levied

The entire world is guessing as to the final form of the Trump economic program. Right now there is something for everyone. The supply-side advisers are pushing for tax cuts. The Trump loyalists from the “Make America Great Again” camp are pushing for huge infrastructure spending. Some advisers, such as Steve Moore and Mike Pence,

This has been a year of political shocks. First came the Brexit vote by the U.K. to leave the EU, on June 23. Then came the election of Donald Trump as 45th president of the United States, on Nov. 8. In both cases, the polls and pundits got it wrong. Elites expected the U.K. would

In recent years, China has evolved from the Middle Kingdom to the bubble kingdom. China experienced a massive real estate bubble that popped in 2014, only to be followed by a stock market bubble that popped in 2015. So far, the Chinese government has been able to contain the damage from these bursting bubbles with