Positively Natural – Pt I
byTHE CASE FOR POSITIVE INTEREST An Austrian rebuttal of Summers et al, in four parts THE TIME IS OUT OF JOINT Over the years,…
Economics
Durable Goods Add To The Idea of Depression (Small ‘d’)
byThere wasn’t anything new or surprising in the advance durable goods report. Shipments (ex transportation) were flat and orders were up 1% year-over-year (NSA)….
Will Japan be the first to test the limits of quantitative easing?
byThe Japanese stock market peaked in December 1989, marking the end of a period of economic expansion which briefly saw Japan eclipse the USA…
Bawerk.net: China’s Lender of Last Resort Conundrum
byIt took a while to play through, but our assessment that China would increasingly become the petro-state lender of last resort is starting to come…
Zero Hedge: US Negative Interest Rate Bets Surge To Record Highs
byAs the “deflationary supernova” sweeps across the world, dragging bond yields to zero-and-beyond, even the almighty omniscent Federal Reserve has been forced to capitulate…
Rationalizing ‘Rational’
byWalter W. Heller was said to have been an “educator of Presidents.” As an economist and Presidential advisor in the inner circles of DC,…
Why output gap is an empty abstraction
byAccording to popular thinking the key cause behind either inflation or deflation is the difference, or the gap, between what an economy is producing…
Safety in (the right) numbers
by“Gross: Global yields lowest in 500 years of recorded history. $10 trillion of neg. rate bonds. This is a supernova that will explode…
Paul Krugman Has Gone Too Far This Time: Let’s Re-Train Him As a Cosmonaut
byI admit it: I have never been a big fan of Paul Krugman. I do not care for his vulgar Keynesianism or his vulgar…
bawerk.net: Tough Choices: Peg or Banking Crisis?
byDuring the reign of the mighty petro-dollar standard, it was necessary for major oil exporters to recycle their dollar holdings back into the dollar-based…