BIS 87th Annual Report, 2016/17
byThe BIS 87th Annual Report, 2016/17 was just released. As we might expect, it implicitly provides some criticism of monetary policy over the previous years….
The velocity of money myth
byEffect of changes in money supply on economic activity and prices is a velocity of money. It is alleged that when the velocity…
Bawerk.net: Necessity is the Mother of Invention – Retirees Desperate Reach for Yield
byBen Bernanke’s creativity inspired a generation of economists and central bankers. QE, ZIRP and NIRP established a new class of economics that is mathematically…
by Jeffrey P. Snider: Wealth Paradox Not Effect
byby Jeffrey P. Snider US Household Net Worth rose to a record $94.8 trillion in Q1 2017. According to the Federal Reserve’s Financial Accounts…
Central Bank balance sheet adjustment – a path to enlightenment?
byCentral Bank balance sheet adjustment – a path to enlightenment? The balance sheets of the big four Central Banks reached $18.4bln last month The…
ECOFLASH: Economy may force the Fed to reverse its interest rate stance
byThe Fed hiked interest rates for the second time this year, in a widely expected move on Wednesday June 14. The Federal Reserve’s Open Market…
Karl Marx and the Presumption of a ‘Right Side’ to History, Part II
byThose who speak about being on the “right side of history” have, knowingly or not, adopted a central element in Karl Marx’s analysis of…
Economic Ideas: Karl Marx and the Presumption of a “Right Side” to History
byOne of the most common phrases to be heard from those on “the left” is the assertion that someone or some public policy is…
Zero Hedge: Goldman: The Fed Will Hike This Week, But Here Are “The Two Most Interesting Questions”
byOn Wedensday the FOMC will hike rates by another 25 bps – an event which the Fed Funds market prices in with near virtual…
The NAIRU (Non-Accelerating Inflation Rate of Unemployment) with Multiple Monies
byThe Nonaccelerating Inflation Rate of Unemployment (NAIRU) is the lowest rate of unemployment at which the inflation rate will not increase because, if it…