Macro Economics

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The Transformation of Banking

Jan 30th, 2012 | By | Category: Featured, Macro Economics
There is a scene in the Parable of the Talents in which the returned master berates the shabbiest of his three servants. Discovering that he had buried his seed capital in the ground, the master says: "You should have put my money on deposit with the bankers, so that when ...read more

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Posted in Featured, Macro Economics | 5 comments


Zero Percent Uber Alles

Jan 26th, 2012 | By | Category: Economics, Featured, Macro Economics
We are getting a sense of what life is like with the new Fed policy of openness. It means that the chairman tries to beat the world record for the longest, most-boring press conference in modern history. Ben Bernanke is getting even better at that crucial skill of repeatedly saying ...read more

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Posted in Economics, Featured, Macro Economics | No Comments »


The Fed’s Men Behind the Curtain

Jan 25th, 2012 | By | Category: Economics, Featured, Macro Economics
The debate about the Fed is under way, and thank goodness. But as with many policy debates, there really shouldn't be a debate at all. That's because, if you think about it, the idea of central banking makes no sense. We don't have a government-created central repository that plans and manages ...read more

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Posted in Economics, Featured, Macro Economics | 9 comments


There’s No Such Thing as a Stable State

Jan 2nd, 2012 | By | Category: Emerging Markets, Featured, Macro Economics, Politics
Twenty years ago, and much to the shock of just about everyone, the mighty Soviet Union, the very embodiment of Hegel’s view of the state as the divine on Earth, dissolved and disappeared. The malicious foe of the U.S., the deadly grizzly that was said to wander the world seeking ...read more

Posted in Emerging Markets, Featured, Macro Economics, Politics | 9 comments


The Blessing of Falling Prices

Dec 6th, 2011 | By | Category: Featured, Macro Economics
The DVD player crashed last night. The disc wouldn't load. Clearly, the player had gone the way of all flesh. With great reluctance, it was off to Wal-Mart to replace this appliance for the first time in perhaps 10 years. While I was there, I figured I would get a ...read more

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Posted in Featured, Macro Economics | 3 comments


Unemployment Solutions: Both Weird and Scary

Dec 1st, 2011 | By | Category: Featured, Macro Economics
There was a brief moment of joy at the news that retailers hired 206,000 new people in November. But only one day later, the other shoe dropped: Jobless claims are, again, past the 400,000 mark -- meaning that the unemployment problem is, overall, getting worse, not better. The broadest measure ...read more

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Posted in Featured, Macro Economics | 6 comments


Leaping Toward the Keynesian Dream

Nov 30th, 2011 | By | Category: Featured, Macro Economics
The Fed's latest inflationary scheme sounds like a technocratic innovation. It lowered the costs of currency swaps between central banks of the world, with the idea that the Fed would do for the globe what Europe, England and China are too shy to do, which is run the printing presses ...read more

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Posted in Featured, Macro Economics | 5 comments


Bank of England Announces More Currency Destruction

Nov 16th, 2011 | By | Category: Economics, Featured, Macro Economics
"The debasement of paper money continues..." That's how our friend Detlev Schlichter signs off his weekly reports on his website, papermoneycollapse.com. It's appropriate. Now more than ever. On Monday, we sent you Detlev's latest on the continued debasement of the euro. We also reported on Bundesbank president Jens Weidmann's opposition to further ...read more

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Posted in Economics, Featured, Macro Economics | 2 comments


Christina Romer’s Toxic Cookbook

Nov 9th, 2011 | By | Category: Featured, Macro Economics
Keynesian and other mainstream economists cannot explain the present crisis. That doesn't seem to bother them. All they can offer is a description of symptoms, such as with their favorite phrase: lack of "aggregate demand." Which, if you think about it, doesn't really explain anything. How come demand dropped? Why did ...read more

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Posted in Featured, Macro Economics | No Comments »


Begging, Pleading for the Abolishment of Gross Domestic Product

Oct 27th, 2011 | By | Category: Featured, Macro Economics
Nobel Laureate Robert Mundell long ago observed that the only closed economy is the world economy.  As such, U.S. production (think the globalized manufacture of Apple's iPad, or Boeing's 787 Dreamliner) is a function of it ties to economic activity occurring around the world. GDP presumes a countries economy in ...read more

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Posted in Featured, Macro Economics | 3 comments


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