LMR – March 2015

An interesting story on NPR discusses the group, “Women on 20s” to replace Andrew Jackson’s mug with a female alternative. We were fascinated to hear that the spokeswoman of the group, Susan Ades Stone, explain why Jackson was the ideal person to swap out: “Ades Stone says the seventh president has a “checkered legacy,” including driving Native Americans out of the southeast. And, she says, Jackson didn’t even like paper money. “He happened to have been a fierce opponent of the central bank and of paper money. He believed that gold and silver coin was the only legitimate money.”

BankNotes – March 2015

One of the great debates today between left and right is whether government stimulus is worth it. The left says “yes, early and often.” And the right says “only in the right circumstances.” Unsurprisingly, both left and right are completely off — stimulus is the quickest way to impoverish an economy.