The Dollar Is Older Than Shakespeare

Published on September 28, 2026

Brendan Greeley’s “The Almighty Dollar” is unlike any other book on the U.S. dollar ever written. Greeley starts his story of the dollar in 1518; the United States would not exist for another 258 years. Halfway through the book, he’s up to 1781.

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Japan Disproved the “Debt Causes Inflation” Narrative

September 28, 2026
Japan can thank its high debt loads and aging demographics for the inflation restraint. But the cost paid in stagnant growth and diminished prosperity for its citizens has been dear. We do not fear an inflationary spike in the U.S.; instead, we are concerned that the economic doldrum that has infected Japan for over 25 years will slowly work its way here.

TIPS Yields at 3% Are Awesome! But Fundamental Principles Don’t Change

September 28, 2026
A possible counterargument might be that the division of future spending goals into “inflexible” needs, for which TIPS are an excellent tool, and “flexible” wants that are best covered by other tools — a division the authors and I both employ — is in fact an oversimplification of what is really a spectrum of flexibility.