Dammit, Janet
byAccording to Einstein, time is affected by gravity. Clocks far from strong gravitational fields run more quickly; those close by run more slowly. We…
Economics & International Studies Seminar: John Phelan
by14 October 2015 16:15 – 18:00 John Phelan, Capital Economics “The Road Not Taken – The Hard ECU; Britain’s Alternative to the Euro” In 2009…
From ZIRP to NIRP
byThe sudden end of the Fed’s ambition to raise interest rates above the zero bound, coupled with the FOMC’s minutes, which expressed concerns about…
Choose your own financial crisis
byDownload: “Choose your own financial crisis“, working paper Do you remember those “Choose your own adventure” stories from your childhood? For some time I’ve…
Squashed
byAs a child I was fascinated by the concept of a neutron star. A neutron star is the tiny but immensely dense thing that’s…
Equity markets and credit contraction
byThere is one class of money that is constantly being created and destroyed, and that is bank credit. Bank credit is created when a…
The Bank of England’s One Bank Research programme – how to truly challenge the orthodoxy?
byThe Bank of England launched its “One Bank Research” programme last year. They write: Through our One Bank Research initiative, the Bank of England…
Low Interest Rates Cannot Save a House of Cards
byWhen is the price of some marketable good or service at or near zero? When either the supply of it is so plentiful that…
Now What?
byThis piece, by Doug Noland, originated here http://creditbubblebulletin.blogspot.co.uk/2015/09/weekly-commentary-now-what.html September 18 – Reuters: “The world’s leading central banks are facing the risk that their massive…
Haldane the Omniscient
byI read this article by Andy Haldane. http://www.theguardian.com/business/2015/sep/18/interest-rates-rise-bank-of-england-chief-economist-andy-haldane I value certain things now more than I do in the future. I am…