Deafblind
by“Most economists, it seems, believe strongly in their own superior intelligence and take themselves far too seriously. In his open letter of 22 July…
Economic Cycles
See no evil, speak no evil…
byThe Jackson Hole speeches of Janet Yellen and Mario Draghi last week were notable for the omission of any comment about the burning issues…
Central Banks Are Hiding the True Price of Risk
byIf you invest your money, you will have to deal with numerous risks. For instance, if you buy a bond, you run the risk…
Assessing the long-term structural risk for China
byAfter falling to 6.4% in Q1 2009 the yearly growth rate of China’s real GDP climbed to 12.2% by Q1 2010. Afterwards the yearly…
Saving and money – what is the relationship?
byConventional wisdom says that savings is the amount of money left after monetary income was used for consumer outlays, implying that saving is synonymous…
Why economists cannot forecast recessions
byThe purpose of this article is to draw the widest attention to the chronic inability of the economic establishment to forecast recessions. Next time…
Are Bank Capital Requirements Really Ten Times Higher Than Before The Crisis?
byA major theme in Bank of England speeches over the last three years has been the ‘Ten Times’ story: bank capital requirements are now…
A Letter to Governor Carney from Professor Kevin Dowd
byDear Governor Carney, I thank your colleagues and yourself for taking the time to meet me on my visit to the Bank earlier…
Why US wages growth remains subdued?
byThe yearly growth rate of average hourly earnings in production and non-supervisory employment in the private sector eased to 2.3% in June from 2.4%…
Borrowed time
by“Remainers who wish to reverse the vote should go live in a banana republic, where reversing undesired vote outcomes is de rigueur.” Tweet from…