Let me say at the outset that I am bullish on gold in the long run. US demographics, politics, debt levels, harder-to-extract energy, peaking of globalization’s labor supply shock: all these point to inflation in the long run. And central bankers have not exactly covered themselves in glory lately. That being said, going back on the gold standard makes exactly as much sense as going back to horses and buggies. Here’s why.

A few technology megatrends:

China’s remarkable growth continues _ China has apparently now passed the US in industrial production, with the world GDP title in its sights (see previous post).

China’s surge from basket case to the world’s factory is simply breathtaking. But the powerful rise has outpaced institutions that Westerners see as prerequisites to capitalism.

A few years old, but new to me: an interesting perspective from Yegor Gaidar, reformist economist of the post-Gorbachev era.

In the post-war period period (possibly throughout the dynasties), truth has been relative in China, while power has been absolute.

I spent March in Asia and trying to figure out China. Here is a quick summary mixed with a few conclusions and speculations.