The Social and Economic Side Effects of Negative Interest Rates
byOur world is currently suffering from acute schizophrenia. Banks are pushing impact and sustainable investing like crazy, companies are subordinating their production sites and…
Financial Stability
When does a recession become a depression?
byDefining a depression as opposed to a recession is open to wide interpretation Recessions are a natural part of the credit cycle Depressions…
The Quick and the Dead
by“The operation was successful but the patient died.” “Teach your kids about compounding: put your money in a savings account and watch it double…
Monetary Massacre Theory
by“A deeply disturbing account of the destructive potential of belief.” – Ammar Kalia, reviewing BBC Four’s Storyville: Jonestown – Terror in the Jungle. …
Low yield, no yield, negative yield – Buy now but don’t forget to sell
byThe amount of negative yielding fixed securities has hit a new record The Federal Reserve and the ECB are expected to resume easing…
My speech in the European Parliament on the coming economic collapse
byZero percent interest rates have created the largest bubble in human history, when it bursts it will be worse than 1929.
Irrational Beliefs Are Ruling Markets
byTo understand the consequences of the credit cycle, we must dismiss pure opinion, and examine the evidence rationally. This article assesses the fate of…
Should bank regulation be relaxed?
byLeading Federal Reserve policymaker Stanley Fischer has hit out at plans to unwind banking regulation, calling it a “terrible mistake.” President Donald Trump and…
Business cycles are credit cycles
byThis article gets to the heart of why central banks’ monetary policy will never succeed. The fundamental error is to regard economic cycles as…
The fateful date
byCaesar: What sayest thou to me now? Speak once again. Soothsayer: Beware the ides of March. Caesar: He is a dreamer; let us leave…