The Arrival Of The Credit Crisis
byThose of us who closely follow the credit cycle should not be surprised by the current slide in equity markets. It was going to…
Economics
Two prophetic 19th century anti-socialist satires
byThe Marxist Left in the Labour Party and elsewhere always embraces with naïve enthusiasm new revolutionary socialist regimes, most recently the one in Venezuela,…
The ECB’s Quantitative Easing Was a Failure — Here Is What It Actually Did
byBy Daniel Lacalle The main reason why the ECB quantitative easing program has failed is that it started from a wrong diagnosis of the eurozone’s…
Is an increase in demand key for economic growth?
byWhenever the so-called economy shows signs of weakness most experts are of the view that what is required to prevent the economy sliding into…
Time Is Money, Money Is Time
byLife’s but a walking shadow, a poor player who struts and frets his hour upon the stage and then is heard no more. -Macbeth…
Emerging Market Sensitivity to US Monetary Policy – What does the Fed think?
byEmerging market currencies have suffered from US interest rate increases The Dallas Fed proposes reserve/GDP ratio as a simple indicator of stress If tightening…
Liquidity and the stock market
byIn a market economy, a major service that money provides is that of the medium of exchange. Producers exchange their goods for money…
Beyond GDP to a New Road to Serfdom
byIt is a commonplace that there is more to life than money and the material benefits that it may provide someone. We often make…
The neutral interest rate myth
byIn his speech to the Economic Club of New York on November 28 2018, the Federal Reserve Board Chairman Jerome Powell said that…
Why velocity of money and the purchasing power of money are not related?
bySome commentators are of the view that when the velocity of money rises, all other thing being equal, the buying power of money…