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by Philip Yaffe

I live in Brussels, Belgium; however, I am a native of California. It used to be fun to watch the reaction of people here when I told them this. Their eyes would almost glaze over and they would sigh, “If I ever visit the United States, it will have to be California.”

It used [...]

WHAT IS INFLATION?

Inflation has been defined as a process of continuously rising prices, or equivalently, of a continuously falling value of money. In other words, inflation causes the buying power of a dollar to decrease over time. A 15 cent hamburger in 1966 seems to us a lot cheaper than the 79-cent hamburger of today. But when the [...]