Britain’s Greatest Prime Minister
Kevin Dowd My good friend and co-author Martin Hutchinson has just had a published a blisteringly brilliant biography of Britain’s greatest Prime Minister. The…
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The Bank’s ‘Stress’ Tests
My report on the Bank of England’s latest (November 2018) stress tests was published by the Adam Smith Institute on August 3rd. The purpose of the stress tests…
The Myth that Central Banks Assure Economic Stability
The world has been plagued with periodic bouts of the economic rollercoaster of booms and busts, inflations and recessions, especially during the last one…
Our Outlook for 2018 Interest Rates To Stay Low. The Consensus View is that Europe’s Banks are Recovering but we are Not So Sure.
by Gordon Kerr, Kevin Dowd and Cavin O’Driscoll, with Enrico Colombatto The Interest Rate Outlook Despite their shortcomings, European banks do not seem on…
The 2017 Stress Tests: Are US Banks Really in Good Shape?
“… equally efficacious, and equally a hoax.” – Benjamin Disraeli, 1848[1] One of the highlights of the U.S. summer for Fed watchers is the annual ritual…
Lord Liverpool and the Return to Gold
Martin Hutchinson and Kevin Dowd* * Hutchinson (karlmagnus.aol.com) is the author of the Bear’s Lear column, http://www.tbwns.com/category/the-bears-lair/. Dowd (kevin.dowd@durham.ac.uk) is professor of finance and…
The Bank of England’s incredible stress tests
The Bank of England’s 2016 stress tests are literally incredible. Of the seven big financial institutions covered in the exercise, only one (RBS) failed…
Another Reason Not to Believe the Bank of England’s Stress Tests
The Bank of England repeatedly reassures us that its stress tests demonstrate the resilience of the UK banking system. Well, let’s put the…
Are Bank Capital Requirements Really Ten Times Higher Than Before The Crisis?
A major theme in Bank of England speeches over the last three years has been the ‘Ten Times’ story: bank capital requirements are now…
The importance of randomness
The greatest strength of a truly free market economy, where money is sound and does not corrupt prices, is the absence of cyclical action….