Today’s wealth destruction is hidden by government debt
Still unnoticed by a large part of the population is that we have been living through a period of relative impoverishment. Money has been…
Read MoreNovember, 2013
Life, but not as we know it
“We have the best government that money can buy.” – Mark Twain. It says a lot about the financial establishment that the most revelatory…
Read MoreEconomics – orthodox and heterodox
In 2008 as The Great Moderation came to an end, Queen Elizabeth II asked Mervyn King “Why did no-one see this coming?” Her Majesty…
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Cooperation between central banks
Zerohedge recently drew attention to the growing level of foreign bank cash deposits, tucked away at the bottom of the Fed’s H.8 statement. Foreign banks’…
Read MoreWhere she stops nobody knows
“No warning can save people determined to grow suddenly rich.” – Lord Overstone. We have seen a confluence of events that suggests we may…
Read MoreOutput gaps and heterogeneity
What shape is the Short Run Aggregate Supply (SRAS) curve? The question might sound tediously esoteric but it is, in fact, central to current…
Read MoreBubbles and central banks – is there a connection?
According to the popular way of thinking, bubbles are an important cause of economic recessions. The main question posed by experts is how one…
Read MoreRemember
An article by Cobden Centre fellow David Howden for Mises.ca. Today many of us are wearing a poppy on our lapels in a show…
Read MoreThere’s a liquidity crunch developing
This week an article in Euromoney points out that liquidity in bond markets is drying up. The blame is laid at the door of regulations designed…
Read MoreDear George
Dear George, No purple prose this time, I promise – I wouldn’t dream of risking any untoward interruption of your natural digestive processes –…
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