Friends of Freedom, Do Not Despair
byriends of freedom can easily become despondent when they look at what appear to be the ideological and political trends that fill the media…
The shape of the yield curve and the state of the economy
byOn Wednesday August 14 2019, participants in financial markets were shocked by the news that the differential between the yield on the 10-year…
Inflationary financing and GDP
byThis article demonstrates that only government borrowing in the US and UK drives GDP growth. This surprising conclusion is confirmed by long-run statistics. GDP…
Take Shelter 2.0
by“The most terrifying words in the English language are: ‘I’m from the government and I’m here to help.’” Ronald Reagan. “When Nobel Prize-winner…
Chinese currency manipulation – Trump’s petard
byThe risk that the Sino-US trade war morphs into an international currency war has risen The US$ Index is up since 2010 but its…
Inflationary financing and GDP
byThis article demonstrates that only government borrowing in the US and UK drives GDP growth. This surprising conclusion is confirmed by long-run statistics. GDP…
How Much Damage Will Come from this Trade War?
byFirst, the good news: the U.S. and world economies have not imploded, so far, as fallout from the rising trade tensions between the Trump…
Why Keynes Believed Efforts to Fight Income Inequality Hinder Economic Growth
byhe economist John Maynard Keynes (1883-1946) famously said, “in the long run we are all dead.” He wasn’t saying we should ignore the long…
Serious advice
by“Given all this, what do MPs do all day? Media manipulation, not operational planning on priorities. “Unsurprisingly, most senior MPs in all three parties…
Deeply negative nominal rates are on their way
byGrowing evidence of a severe global recession is sure to provoke more aggressive monetary policies from central banks. They had hoped to have the…