The meaning of money
bySo a Dollar was still a Dollar, as Richard Nixon told US citizens 40 years ago this summer. Whether the Euro will be worth…
Did QE work?
byI think this is a complicated question to answer, and both sides of the debate have a tendency to over simplify. If we understand…
Why is there a euro crisis?
byOn Thursday, October 28, 2011, prices of European stocks soared. Big banks like Société Générale (+22.54%), BNP Paribas (+19.92%), Commerzbank (+16.49%) or Deutsche Bank…
China and Europe: 100 years of folly
byOne can read The Daily Mail for its coverage of the royal family, snapshots of British life, or, if you are like me, the…
Infinite stupidity
by“The unlimited resources” of the European Central Bank (ECB) is quickly becoming the new magic mantra in political commentary and financial market analysis, now…
Last one out, please turn out the lights
byThe release of China’s latest batch of inconsistent and methodologically opaque official statistics were—cue Captain Louis Renault for effect—just about perfect for the job…
Euroland: an Austrian view
byIn the last two weeks the headlines have switched from Greece to Italy. Financial and economic commentators who dismissed Greece as a small cog…
Haldane’s “control rights (and wrongs)”
byIn the wake of the crisis, the question of whether financial markets are capable of effective self-regulation took centre stage. The near unanimous verdict…
More regulation is not a good thing
byA common interpretation of the credit crunch and ensuing global turmoil is that it was all down to unregulated or under-regulated financial institutions and…
Monetary policy is not all about pulling levers
byMy latest article for City A.M. I’M A big fan of the Bank of England museum. I find the way it attempts to educate…