“John Taylor: The Republicans’ Shadow Fed Chairman”
“Taylor’s followers include the new GOP House leadership, the chairmen of key House committees, Presidential hopefuls, conservative thinkers, and others suspicious of Federal Reserve Chairman Ben Bernanke’s stimulative monetary policy and perceived all …
READ MORE“Put Off Badly Needed Budget Cuts? Austerity Doesn’t Mean No Growth” – Reynolds
The Times’ real point was to argue that, “Whatever the sum .. . cutting billions would be foolish at a time when joblessness is high and the recovery needs stimulus, not tightening. … Spending cuts need not and should not start today, but the nation …
READ MORE“Does Government Spending Affect Economic Growth” – Mercatus
“Government spending, even in a time of crisis, is not an automatic boon for an economy’s growth. A body of empirical evidence shows that, in practice, government outlays designed to stimulate the economy may fall short of that goal. Such findings have …
READ MORE“The Great Debt Bubble of 2011” – Johan Norberg
“‘The worst of the storm has passed,’ declared Barack Obama at the start of last year, seeking to calm the fearful. For his part, Gordon Brown assured Britain that talk of tough years ahead was ‘simply not true’. Both men spoke of their resolve to cure …
READ MORE“Foreigners Shun Europe’s Bonds, and Debt Piles Up” – NYT
“Greece. Ireland. And now, it seems, Portugal. While the circumstances that have driven these debt-ridden members ofthe euro zone to the brink differ, they share one common characteristic: all three countries aggressively tapped their domestic banking …
READ MORE“Fed’s Fisher Against Any QE2 Expansion”
“In interviews ahead of his speech, Fisher took a softer tone to the Fed’s current program, known as QE2. While he did not support it, Fisher said he was not eager to make any changes to the $75 billion per-month pace of purchases that is set to end in …
READ MORE“Gold May Rise as European Sovereign-Debt Crisis Spurs Demand for a Haven”
“Gold, little changed in London, may rise after a member of theFederal Reserve said the bank could pare back stimulus measures and Europe’s governments wrestled with the sovereign-debt crisis, boosting demand for a haven. Federal Reserve Bank of Philad …
READ MORE“ECB Intervenes As Debt Crisis Deepens” – Financial Times
“The European Central Bank intervened to prop up the eurozone bond markets on Monday as political leaders and bankers warned the debt crisis was deepening amid fears Portugal was edging closer to an international bail-out. Although European Union offic …
READ MORE“ECB Gives Portugal Temporary Lifeline, Traders Say”
“The European Central Bank threw Portugal a temporary lifeline on Monday by buying up its bonds, traders said, as market and peer pressure mounted for Lisbon to seek an international bailout soon. A senior euro zone source said on Sunday that Germany, …
READ MORE“U.K. Think Tank Sees 20% Chance of Euro’s Survival” – WSJ
“Europe’s common currency, battered for more than a year by a sovereign debt crisis, is unlikely to survive the next decade in its current form, the Center for Economics and Business Research warned Friday. In a list of top 10 predictions for 2011, the …
READ MORE“The Great Inflation and Monetarism” – Lawrence H. White
“During the Second World War, American monetary policy was dedicated to providing cheap credit to the federal government. This policy resulted upward pressure on prices and was suppressed by wage and price controls enforced by the Office of Price Admin …
READ MORE“The Fiscal Trap”
“Fed chairman Ben Bernanke concedes that, while necessary, a new large purchase of government bonds by the Fed to help cover the deficit will not completely solve our problem of slow growth. Many in the markets and around the world express the same sen …
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