Is present monetary policy rational?
byWhile the stance of monetary policy around the world has, on any conceivable measure, been extreme, by which I mean unprecedentedly accommodative, the question…
Economics
Playing with fire
byOnce again, the European press is trumpeting the triumph of the prodigals after a week in which both the Spanish and the French were…
Fed’s policy of price stability damages US economy
byAccording to a European Central Bank Governing Council member Ewald Nowotny, Federal Reserve Chairman Ben Bernanke sees no risk to inflation in the United…
Still stuck in the Middle Ages
by“We have Stone Age emotions. We have medieval institutions.. And we have god-like technology.” – Edward O. Wilson. The BBC reported last week that…
Shifting sands – part 3
byContinued from part 2 … Finally to China where the only thing to note is that the meme of credit exhaustion is starting to…
The case against deflation
byRegular readers will know I am in the inflation, possibly hyperinflation camp; but there are those that think the future is more likely to…
Shifting sands – part 2
byContinued from part 1 … Away from the brouhaha over fiscal policy, the intertwined issue of its monetary equivalent comes into focus. Perhaps in…
The Corruption of Capitalism in America
byFollowing on from John Butler’s review, here’s Detlev’s take on “The Great Deformation” … David Stockman’s new book is a brilliant, penetrating analysis of the present state…
Shifting sands
byIn what was a banner week for the many serial inflationists and fans of Big Government out there, equity markets largely reversed the declines…
Goodbye to austerity
byThere is a new campaign to end austerity. First, the IMF lets it be known it has second thoughts about it; then we are…