Kyung Il Yang Chief Editor, Gomdolee stephen@gomdolee.com April 1st, 2026 Introduction Since 2019, inflation has exposed a deep flaw in how economists and policymakers measure economic reality. As of April 2026, the overall CPI has increased roughly 26–28% cumulatively from December 2019. Yet food-at-home prices — the most tangible and frequent expense for households — … Continue reading Beyond CPI: Lived Inflation and Valuations (REVISED)

Kyung Il Yang Chief Editor, Gomdolee stephen@gomdolee.com March 30th, 2026 1. Introduction The functions of money have long been central to economic thought. Since Jevons (1875) and Menger (1892) formalized the tripartite classification — medium of exchange, unit of account, and store of value — the third function has been particularly associated with assets capable … Continue reading Store of Value Reconsidered: the Question of “What Value?”

Kyung Il Yang Chief Editor, Gomdolee stephen@gomdolee.com April 1st, 2026 Highlights 2025 recorded strong CLO issuance with $472 billion in BSL and $84.73 billion in private credit CLOs, alongside contained defaults that confirmed structural resilience compared with 2008 CDOs.   Regulatory tiering under Basel III allows G-SIBs to absorb assets and increase market share during … Continue reading Collateralized Loan Obligations and the Rise of Big Bank Credit Dominance (Revised)

Kyung Il Yang Chief Editor, Gomdolee stephen@gomdolee.com April 2nd, 2026 Introduction: 2025 as the Definitive Stress Test Official inflation statistics for 2025 and early 2026 conveyed an image of orderly disinflation. Headline CPI-U rose 2.7% from December 2024 to December 2025, with food prices up 3.1% and shelter exerting significant influence. By the 12 months … Continue reading The CPI is Dead Wrong: Evidence from the 2025 Polycrisis (Revised)