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A Real Agenda for a Renewal of Free Market Liberalism
To mark its 175th birthday, the highly regarded and widely read British news magazine The Economist published a “manifesto” in its September 15, 2018,…
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Hong Kong and the road to recovery
We are following the road to perdition There is increasing awareness that another financial crisis is in the offing, and, of course, everyone has…
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Happy anniversary
“They have learned nothing, and forgotten nothing.” Attributed to Talleyrand. Since everybody else in financial media has been indulging in an orgy…
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Macro Aggregates Hide the Real Market Processes at Work
For the 12 months that ended in July 2018, price inflation in the United States, as measured by the Consumer Price Index, was 2.9…
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Everything is awesome
“What explains the complacency? One reason might be the absence of good ideas.” Martin Wolf in the Financial Times (‘Why so little has…
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Why the Fed Denied the Narrow Bank
It’s not every day that a clear example showing the horrors of central planning comes along—the doublethink, the distortions, and the perverse incentives. It’s…
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The Fed and asset bubbles
In his speech on April 7 2010 at the Economic Club of New York the President of the New York Fed, William Dudley argued…
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Japan’s Not Really A Domino, Though The Timing Is Right
By Jeffrey P. Snider This year is just different. Increasingly so. Not just in one or two places, either, but in way too many places….
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China’s Trade Surplus With US Hits Record High as Export Growth Declines
by Mike Mish Shedlock US trade data with China makes it increasingly likely Trump will increase tariffs on China. Bloomberg reports China Trade Outlook Darkens as…
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Laissez-Faire and Little Englanderism: The Rise, Fall, Rise, and Fall of the Manchester School
By Gregory Bresiger from THE JOURNAL OF LIBERTARIAN STUDIES Volume 13, Number 1 (1997) War Follows Protection. Peace Follows Free Trade. As David Ricardo said, “If…
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Zero Hedge: US Ports Fear Tariffs Could Collapse Ship Traffic And Reduce Jobs
President Donald Trump has repeatedly told the American people his trade war pitch: “Tariffs are the greatest!” Except they are not — and a new…
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Interest Rates Need to Tell the Truth
In the middle of July 2018, President Donald Trump said in an interview that he was “not happy” with the Federal Reserve nudging up…
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On the wealth, and poverty, of nations
“There’s a great deal of ruin in a nation.” Adam Smith, in correspondence discussing the Battle of Saratoga, which marked a turning point…
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Divergent – the breakdown of stock market correlations, temp or perm?
Emerging market stocks have stabilised, helped by the strength of US equities Rising emerging market bond yields are beginning to attract investor attention…
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Latest Articles on Economics
Hong Kong and the road to recovery
We are following the road to perdition There is increasing awareness that another financial crisis is in the offing, and, of course, everyone has…
Happy anniversary
“They have learned nothing, and forgotten nothing.” Attributed to Talleyrand. Since everybody else in financial media has been indulging in an orgy…
Macro Aggregates Hide the Real Market Processes at Work
For the 12 months that ended in July 2018, price inflation in the United States, as measured by the Consumer Price Index, was 2.9…
Latest by Format
Latest Articles on Money
The Fed and asset bubbles
In his speech on April 7 2010 at the Economic Club of New York the President of the New York Fed, William Dudley argued…
John Law – 300 years on
Most people are aware that historically there have been speculative bubbles. Some of them can even name a few – the South Sea bubble,…
What causes the acceptance of paper money?
Demand for a good arises because of its perceived benefit. For instance, people demand food because of the nourishment it offers them. This is…
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