Economic stability and economic growth
During the period 1920 to 1960, we can observe that the annual growth rate of production was more volatile than between the…
Read MoreEconomic Cycles
Global Real Estate – Has the tide begun to recede?
Despite the fourth quarter shakeout in stocks, real estate values keep rising Financial conditions remain key, especially in a low rate environment Isolated…
Read MoreCentral Banking Is Central Planning
At a time when the appeal of and demands for a new “democratic” socialism seem to have caught the imagination of many among the…
Read MoreInterview with Professor Joachim Starbatty MEP
Professor Joachim Starbatty is a member of the European Parliament. He kindly hosted our event “The Lessons of Economic History” earlier this year. Here…
Read MoreNeutral interest rate – the Fed’s impossible goal
It is widely accepted that by means of suitable monetary policies the US central bank can navigate the economy towards a growth path…
Read MoreHow Asset Inflation Will End — This Time
Life after death for asset inflation: this is what happens when “speculative fever” remains high even after monetary inflation has paused. This may well…
Read MoreChapter 6: America, Won and Lost.
After the United States gained its independence from Britain, it became powerful in the world in two very different ways: as an idea,…
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Capital Flows – is a reckoning nigh?
Borrowing in Euros continues to rise even as the rate of US borrowing slows The BIS has identified an Expansionary Lower Bound for…
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Central bank balance sheet reductions – will anyone follow the Fed?
The next wave of QE will be different, credit spreads will be controlled The Federal Reserve may continue to tighten but few other…
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Sustainable government debt – an old idea refreshed
New research from the Peterson Institute suggests bond yields may fall once more Demographic forces and unfunded state liabilities point to an inevitable…
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