Before Coronavirus
by“In order to succeed, you must first survive.” Nassim Nicholas Taleb. “I am certain that my fellow Americans expect that on…
Economic Cycles
The Global Economy Won’t Bounce Back Soon
byIn February, the general consensus between large investment banks and supranational entities was that there would be a one-time hit to GDP in the…
Estimating the shape of the coming crisis
byWith a recession become increasingly certain and the end of the expansionary phase of the credit cycle in sight, we can expect a periodic…
The Theory and Brief History of Money and Banking
by[This article is part of the Understanding Money Mechanics series, by Robert P. Murphy. The series will be published as a book in late 2020.] The…
Statistical misdirection
byEconomists who understand credit cycles expect the current cycle to enter its crisis stage at any moment. Furthermore, it combines with increasing trade tariffs…
Are we heading for a liquidity trap?
byWith interest rates in many countries close to zero or even negative some commentators are of the view that monetary policy of the…
From Zero Hedge ::: Lagarde – “We Should Be Happier To Have A Job Than To Have Savings”
byAny hopes that the replacement of Mario Draghi, who on Halloween left the ECB more polarized than ever, as the core European nations revolted…
Benn Steil: Housing Market Points to Recession By Election Day
byLooking back at the years preceding the 2008 financial crisis, a critical warning sign was the surging gap between the growth in home prices…
Inflationary financing and GDP
byThis article demonstrates that only government borrowing in the US and UK drives GDP growth. This surprising conclusion is confirmed by long-run statistics. GDP…