Deflating the derivatives balloon
byDerivatives have a bad name for many commentators, with some describing them variously as dangerous or even weapons of mass destruction. The sheer size…
Masters of disaster
byI had the good fortune recently to attend a presentation given by Matthew Hancock MP, at the Houses of Parliament. Mr Hancock was giving…
A moving target
bySince last we wrote, some three weeks ago, there has been little diminution in the frantic torrent of policy proposals, policy adjustments, and policy…
If this is capitalism, I am not a capitalist
byThis post originally appeared on www.stevebaker.info. I spoke last night in the general debate on the economy, saying*: As I rise to speak I…
Liars led by junkies
by“In my several decades as a financial and economics commentator – covering banking crises dating back to the early 1970s and the Latin American…
Currency swaps – the beginning of a ‘solution’?
byBy far the most important event of the week was the joint announcement by the world’s leading central banks that they were extending existing…
Revolutionary insights for the eurozone
byEveryone seems to be searching for a roadmap for the Euro-crisis. A precedent to guide policymaking and financial decisions would give some assurance that…
The money supply continues to contract
byRegular readers will know that The Cobden Centre’s sister roundtable – Kaleidic Economics – is engaged in measuring the MA measure of the money…
Why do bankers earn so much money?
byI was asked recently why it is that market forces do not push down the wages of the top earners in financial services. The…
Why the EFSF will fail
byHow The EFSF Works: The European Financial Stability Facility (EFSF) was set up in order to provide relief to countries that are in difficulties….