The Money Illusion

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Money illusion - Wikipedia In economics, money illusion, or price illusion, is the tendency of people to think of currency in nominal, rather than real, terms.In other words, the face value (nominal value) of money is mistaken for its purchasing power (real value) at a previous point in time. Viewing purchasing power as measured by the nominal value is false, as modern fiat currencies have no intrinsic value and their ... TheMoneyIllusion The escalating trade war seems to be sharply depressing the Wicksellian equilibrium interest rate. Here are some recent headlines, from Bloomberg: The 5-year bond yield is down to 2.10%, a pretty clear indication that significantly lower interest rates lie ahead. Trump may or may not have been right that lower interest rates were called for in 2018 (I doubt Magic (illusion) - Wikipedia Magic, along with its subgenres of, and sometimes referred to as illusion, stage magic or close up magic is a performing art in which audiences are entertained by staged tricks or illusions of seemingly impossible feats using natural means. It is to be distinguished from paranormal magic which are effects claimed to be created through supernatural means. It is one of the oldest performing arts ...