Does transparent monetary policy lead to economic stability?
byIn his various writings, the champion of the monetarist school, Milton Friedman, argued that there is a variable time lag between changes in money…
February, 2019
What They Don’t Want You to Know about Prices
byast week, in part I of this essay, we discussed why a central planner cannot know the right interest rate. Central planner’s macroeconomic aggregate measures like…
Central bank balance sheet reductions – will anyone follow the Fed?
byThe next wave of QE will be different, credit spreads will be controlled The Federal Reserve may continue to tighten but few other…
Who Knows the Right Interest Rate
byOn January 6, we wrote the Surest Way to Overthrow Capitalism. We said: “In a future article, we will expand on why these two statements…
2 Events in European Parliament this week
byI am speaking at two events – on Tuesday, “The Lessons of Economic History”, then on Wednesday “The Future of Artificial Intelligence” If…
Chapter 3: How Money Works Today: A Summary.
byThis chapter summarises how money works today. For convenience’s sake, there will be some repetition of material covered elsewhere. Founded on debt rented…
Sustainable government debt – an old idea refreshed
byNew research from the Peterson Institute suggests bond yields may fall once more Demographic forces and unfunded state liabilities point to an inevitable…
Outrageous fortune
by“Isn’t it funny when you walk into an investment firm and you see all of the financial advisers watching CNBC ? That gives me…
Why monetary easing will fail
byThe major economies have slowed suddenly in the last two or three months, prompting a change of tack in the monetary policies of central…
The Difference between Money Supply & Liquidity
byThe US debt ceiling suspension, signed on February 2018, expires in March this year. According to some experts, the US Treasury will have to…