
When does a recession become a depression?
Defining a depression as opposed to a recession is open to wide interpretation Recessions are a natural part of the credit cycle Depressions…
Read MoreDefining a depression as opposed to a recession is open to wide interpretation Recessions are a natural part of the credit cycle Depressions…
Read MoreBy Henrique Schneider Around the world, productivity growth has been slowing. In developed economies, productivity has risen by less than 1 percent annually for several…
Read MoreThe world seems to be on fire. A couple of months ago, the economic upswing was still firmly established, production expanded, and unemployment was…
Read More“As I’ve written in past memos, I have an indelible recollection of the first book I read as a Wharton freshman in 1963. The…
Read MoreThrough most of the coronavirus crisis, those who have made the case for stay-at-home, reduce or stop work, and narrow the range of retail…
Read MoreHere is a typical statement regarding supply and demand: “if the demand for any product increases, given the existing supply, the price of that product…
Read MoreEconomists who understand credit cycles expect the current cycle to enter its crisis stage at any moment. Furthermore, it combines with increasing trade tariffs…
Read MoreNot too long ago, we wrote about the so called Modern Monetary so called Theory (MMT). It is not modern, and it is not…
Read MoreNew entrants into every aspect of banking were encouraged by two recent regulatory developments: the Open Banking initiative and the ‘sandboxing’ exemptions from regulations….
Read MoreThis article demonstrates that only government borrowing in the US and UK drives GDP growth. This surprising conclusion is confirmed by long-run statistics. GDP…
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