FinTech Companies; little innovation and no reform of banking
New entrants into every aspect of banking were encouraged by two recent regulatory developments: the Open Banking initiative and the ‘sandboxing’ exemptions from regulations….
Read MoreEconomics
Inflationary financing and GDP
This article demonstrates that only government borrowing in the US and UK drives GDP growth. This surprising conclusion is confirmed by long-run statistics. GDP…
Read MoreThe Financial War Escalates
Behind the scenes, the financial war between America and China is escalating dangerously into a war to secure global financial resources. At a time…
Read MoreStatistics and the facts of economic reality
The government’s releases of various economic indicators such as GDP, CPI and unemployment receive wide coverage in the media. In a measured and…
Read MoreForget velocity of money circulation
If there is one concept that illustrates the difference between a top-down macro-economic approach and the reality of everyday life it is the velocity…
Read MoreChapter 9: Reform
Anyone reading this probably already feels that reform would be a good idea. On paper, reform would be a simple matter: merely cancelling unjust…
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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…
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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…
Read MoreImportance of model building in economics
In the natural sciences, a laboratory experiment can isolate various elements and their movements. There is no equivalent in the discipline of economics….
Read MoreWho Knows the Right Interest Rate
On January 6, we wrote the Surest Way to Overthrow Capitalism. We said: “In a future article, we will expand on why these two statements…
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