Positively Natural – Pt I
THE CASE FOR POSITIVE INTEREST An Austrian rebuttal of Summers et al, in four parts THE TIME IS OUT OF JOINT Over the years,…
The Road to Canossa
That the artificial interest rates in evidence in our hugely distorted capital and money markets can be made negative in nominal as well as…
Avoiding the Issue
In the wake of the so-called ‘Panama Papers’ furore, the push-button issue of the One Percent being found able – OH! THE HORROR! –…
I Love the Smell of Napalm in the Market
That usually perceptive and always interesting observer of the financial Zeitgeist, Bloomberg’s estimable Mark Gilbert, has just penned an article entitled: “Milton Friedman’s ‘Helicopter…
Mario meets Spinal Tap
Not only is he a man who does not seem to understand how banks actually, not only is he dominated with the idée fixé…
Negative rates, Negative Outcomes
There has been much head-scratching of late as to why, with interest rates lower than they have been since the Universe first exploded out…
Whatever it Takes?
In the midst of all the recent uproar, one anonymous Twitterer seized his chance to have his Uber-Warholian, 140-characters-of-fame moment and thundered: ‘Central banks…
The Three Kings (and One Queen)
Merry Christmas from The Cobden Centre! With apologies to the spirit of Henry Wadsworth Longfellow Three Kings came a-riding from far, far…
Reserve Judgement
With regard to the vexed issue of the renminbi, let’s focus on the basics. The official response to July’s stock market collapse saw loans…
The Only Form of Permanence
Perhaps the first great lesson of economics, as emphasized by Henry Hazlitt, is that there is no free lunch. The second, courtesy of Frederic…