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…
Economics
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…
Everything is awesome
by“What explains the complacency? One reason might be the absence of good ideas.” Martin Wolf in the Financial Times (‘Why so little has…
Why the Fed Denied the Narrow Bank
byIt’s not every day that a clear example showing the horrors of central planning comes along—the doublethink, the distortions, and the perverse incentives. It’s…
Japan’s Not Really A Domino, Though The Timing Is Right
byBy Jeffrey P. Snider This year is just different. Increasingly so. Not just in one or two places, either, but in way too many places….