Leveraged Loans – History Rhyming?
byDespite three Federal Reserve rate cuts, leveraged loan credit quality is rapidly declining Covenant-lite issues now account for more than 80% of US$…
The Japanization of the European Union
byThe Japanization of the European Union[1] Introduction The topic of my lecture today is “The Japanization of the European Union.” I…
Targeting nGDP Targeting
byNot too long ago, we wrote about the so called Modern Monetary so called Theory (MMT). It is not modern, and it is not…
150 years of bank credit expansion is near its end
byThe legal formalisation of the creation of bank credit commenced with England’s 1844 Bank Charter Act. It has led to a regular cycle of…
The Perversity of Negative Interest
byToday, we want to say two things about negative interest rates. The first is really simple. Anyone who believes in a theory of interest…
Are we heading for a liquidity trap?
byWith interest rates in many countries close to zero or even negative some commentators are of the view that monetary policy of the…
The History and Meaning of Berlin Wall
byhis November marks the 30th anniversary of the fall of the Berlin Wall. On November 9, 1989, as the shaky East German communist government…
The Economic Standard’s write up on my speech at the Austrian central bank.
byBy Erik Sass, TES Editor-in-Chief https://theeconomicstandard.com/will-blockchain-undermine-central-bank-control-or-amplify-it/ Since the launch of Bitcoin in 2009 cryptocurrencies have proliferated, powered by blockchain technology using distributed computing…
It’s Coming Home this November! Event in Austrian central bank in Vienna
byThis will be a good one. See more here: http://austrianconference.org/
FinTech Companies; little innovation and no reform of banking
byNew entrants into every aspect of banking were encouraged by two recent regulatory developments: the Open Banking initiative and the ‘sandboxing’ exemptions from regulations….