Liars led by junkies
by“In my several decades as a financial and economics commentator – covering banking crises dating back to the early 1970s and the Latin American…
Economics
Currency swaps – the beginning of a ‘solution’?
byBy far the most important event of the week was the joint announcement by the world’s leading central banks that they were extending existing…
Revolutionary insights for the eurozone
byEveryone seems to be searching for a roadmap for the Euro-crisis. A precedent to guide policymaking and financial decisions would give some assurance that…
The money supply continues to contract
byRegular readers will know that The Cobden Centre’s sister roundtable – Kaleidic Economics – is engaged in measuring the MA measure of the money…
Why do bankers earn so much money?
byI was asked recently why it is that market forces do not push down the wages of the top earners in financial services. The…
Why the EFSF will fail
byHow The EFSF Works: The European Financial Stability Facility (EFSF) was set up in order to provide relief to countries that are in difficulties….
A new golden age
by“The designers of the good ship euro wanted to create the greatest liner of the age. But as everybody now knows, it was fit…
The bubble in government bonds is finally bursting
by“The government can always pay.” This is a statement that has no basis in fact. Any rational analysis will quickly expose it to be…
The myth of contagion is catching
byTalks of contagion risk, despite having a brief respite earlier this year, are back stronger than ever. With Italy dominating the news, the new…
20 years since India’s economic reforms
byIndia in the last 20 years has started to reverse the Keynesian-inspired planning that clouded its growth since independence. A large part of this…