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December 2, 2025 

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HORIZONTAL EQUITY: A system of taxes that treats equal people equally. In other words, if you make the same income as someone else and pay the same personal income taxes, then you have horizontal equity.

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CYCLICAL UNEMPLOYMENT

Unemployment attributable to a general decline in macroeconomic activity, especially expenditures on gross domestic product, that occurs during a business-cycle contraction. When the economy dips into a contraction, or recession, aggregate demand declines, so less output is produced and fewer workers and other resources are employed. Hence unemployment of the cyclical variety increases. Cyclical unemployment is one of four unemployment sources. The other three are seasonal unemployment, frictional unemployment, and structural unemployment.

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APLS

WHITE GULLIBON
[What's This?]

Today, you are likely to spend a great deal of time wandering around the shopping mall trying to buy either a coffee cup commemorating last Friday (you know why) or a wall poster commemorating the first day of spring. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?

A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
"A ship ought not to be held by one anchor, nor life by a single hope. "

-- Epictetus, philosopher

LME
London Metal Exchange
A PEDestrian's Guide
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