Today’s wealth destruction is hidden by government debt
byStill unnoticed by a large part of the population is that we have been living through a period of relative impoverishment. Money has been…
November, 2013
Life, but not as we know it
by“We have the best government that money can buy.” – Mark Twain. It says a lot about the financial establishment that the most revelatory…
Economics – orthodox and heterodox
byIn 2008 as The Great Moderation came to an end, Queen Elizabeth II asked Mervyn King “Why did no-one see this coming?” Her Majesty…
Cooperation between central banks
byZerohedge recently drew attention to the growing level of foreign bank cash deposits, tucked away at the bottom of the Fed’s H.8 statement. Foreign banks’…
Where she stops nobody knows
by“No warning can save people determined to grow suddenly rich.” – Lord Overstone. We have seen a confluence of events that suggests we may…
Output gaps and heterogeneity
byWhat shape is the Short Run Aggregate Supply (SRAS) curve? The question might sound tediously esoteric but it is, in fact, central to current…
Bubbles and central banks – is there a connection?
byAccording to the popular way of thinking, bubbles are an important cause of economic recessions. The main question posed by experts is how one…
Remember
byAn article by Cobden Centre fellow David Howden for Mises.ca. Today many of us are wearing a poppy on our lapels in a show…
There’s a liquidity crunch developing
byThis week an article in Euromoney points out that liquidity in bond markets is drying up. The blame is laid at the door of regulations designed…
Dear George
byDear George, No purple prose this time, I promise – I wouldn’t dream of risking any untoward interruption of your natural digestive processes –…