The mass escape from reality
by“..Built into the speculative episode is the euphoria, the mass escape from reality, that excludes any serious contemplation of the true nature of what…
August, 2016
Take Heart, Liberty Will Prevail
byElection years are depressing experiences for friends of freedom. The campaign stump, invariably, brings out even more of the worst in mainstream politicians who…
How Long Will It Take for the ECB to Own All Sovereign Debt of Spain, Germany, France?
byBy Mike “Mish” Shedlock Source: https://mishtalk.com/2016/08/25/how-long-will-it-take-for-the-ecb-to-own-all-sovereign-debt-of-spain-germany-france/ Huky Guru on Guru’s Blog posted a chart that answers the question: How Long Will it Take For the…
Why Say’s law is always true
byOne of my regular readers has raised the important subject of Say’s law, the denial of which both Keynesian and modern monetarists are emphatic….
QE is Simply Reactionary
byThe Bank of England has recently announced a new round of quantitative easing alongside an interest rates cut, pushing £100 billion into banks, with…
There is merely a distinction of reason between rules and discretion in central banks’ monetary policy
byAbstract: I briefly review some key articles within the monetary policy literature regarding the debate surrounding rule-based versus discretionary monetary policy and relate them…
The crack-up boom has already begun
by“Negative interest rates are not the fault of central banks” Martin Wolf column for the Financial Times of 12 April, 2016. From ‘Human…
Arizona Considers Issuing a Gold Bond
byThe Arizona House of Representatives has convened an Ad Hoc Committee on Gold Bonds. The purpose is to explore if and how the state…
Witness to the End of Soviet Power: Twenty-Five Years Ago
bySource: https://fee.org/articles/witness-to-the-end-of-soviet-power-twenty-five-years-ago/ Twenty-five years ago, on August 22, 1991, I stood amid a vast cheering crowd of tens of thousands of people outside the Russian…
Does UK need looser fiscal stance to cushion Brexit?
by“We are all Keynesians now, so let’s get fiscal” – this is one view according to Ambrose Evans-Pritchard[1] from The Telegraph who believes the…