The Credit Cycle Is On The Turn
byWe are on the verge of moving into an era of high interest rates, so markets will behave differently from any time since the…
Economics
Is technical knowledge the key driver of economic growth?
byAccording to this year Nobel Prize winner in economics, Paul Romer, the technical knowledge that spills over into the creation of new products…
Economic Thought in Ancient Greece
byThe intellectual odyssey that laid the foundations for Western civilization began in classical Greece. Unfortunately, Greek thinkers failed in their attempt to grasp the…
We should ditch GDP as a measure of economic activity
byThis article exposes the false economic concepts behind GDP, which is only the visible tip of a large iceberg of economic deceit. Describing an…
Does balance of payments determine foreign currency exchange rate?
byAccording to popular thinking, a key factor in the foreign currency exchange rate determination is the state of the balance of payments. Following this…
Can consumer surveys help ascertaining the future course of an economy?
byIn order to gain insight into the future state of an economy, many economists refer to a variety of consumer and business surveys….
Strong GDP data and individuals’ wellbeing
byIn the New York Times September 14 2018 in an article – We’re Measuring The Economy All Wrong, the writer of the article David…
Hong Kong and the road to recovery
byWe are following the road to perdition There is increasing awareness that another financial crisis is in the offing, and, of course, everyone has…
Happy anniversary
by“They have learned nothing, and forgotten nothing.” Attributed to Talleyrand. Since everybody else in financial media has been indulging in an orgy…
Macro Aggregates Hide the Real Market Processes at Work
byFor the 12 months that ended in July 2018, price inflation in the United States, as measured by the Consumer Price Index, was 2.9…