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February 22, 2017 

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FIAT MONEY: A medium of exchange (money) with value in exchange, but little or no value in use. Modern paper currency, coins, and checkable deposits are fiat money. The value of fiat money comes from the public's general willingness to accept it in exchange for other goods. This willingness comes from the fact that EVERYONE is willing to accept fiat money in exchange, which largely depends on the public's confidence in the authority (usually government) issuing the fiat money. Fiat money is NOT valuable unto itself, but it is valuable for what it can buy.

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TIEBOUT HYPOTHESIS: The notion that people relocate from one political jurisdiction to another in search of a more preferred package of government taxes and spending. This hypothesis suggests that people "shop" for compatible government activity in the same way they might shop for a car, a house, or a flavor of ice cream. The Tiebout hypothesis indicates that people have two methods of "voting" on government activity -- one is at the ballot box the other is with their feet by seeking a more preferred location.

     See also | public choice | logrolling | explicit logrolling | majority rule | super majority rule | unanimity rule | plurality rule | principal-agent problem | principle of the median voter | term limits | line item veto | sunset law |


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TIEBOUT HYPOTHESIS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2017. [Accessed: February 22, 2017].


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LAW OF DEMAND

The inverse relationship between demand price and the quantity demanded, assuming ceteris paribus factors are held constant. This fundamental economic principle indicates that a decrease the price of a commodity results in an increase in the quantity of the commodity that buyers are willing and able to purchase in a given period of time, if other factors are held constant. The law of demand is one of the most important principles found in the study of economics.

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APLS

State of the ECONOMY

U.S. National Debt
January 3, 2017
$19,951,017,689,395.11
Up over $1 trillion in 2016: U.S. Debt Clock

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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a pair of leather sandals that won't cause blisters or clothing for your kitty cats. Be on the lookout for door-to-door salesmen.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
"Be willing to have it so. Acceptance of what has happened is the first step to overcoming the consequences of any misfortune."

-- William James, Psychologist

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