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“The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus …
READ MORE“The causes of the global financial crisis of 2008 were almost entirely flaws in the credit system based on leverage, exotic financial instruments, and a sharp drop in American housing prices. Just as that cycle has begun to end, and GDP in major nati …
READ MORE“In conjunction with Wall Street investment houses, lenders created the increasingly risky loans designed to help Americans realize the dream of homeownership, giving birth to such questionable practices as no or minimal down payments, no income docume …
READ MOREOn Wednesday, I posted a Wall Street Journal article on the EU’s plan to levy taxes on banks that would fund a bank bailout system. The article states, But the commission is adamant that the funds shouldn’t be used to pump capital into banks or for ot …
READ MORE“As a long-standing critic of the concept of a single European currency, I have not rejoiced at the current problems in the eurozone that threaten the very survival of the euro. Before discussing the events surrounding the Greek debt crisis further, I …
READ MOREThe willingness to work for the sake of future prosperity is a universal human quality, but people must believe there is a link between effort and reward. The euro is beset with fiscal calamities that threaten its downfall, and markets in the U.S. are …
READ MORE“A top Federal Reserve official said on Tuesday that European debt woes pose a risk to the US economic recovery, but expressed confidence the danger of contagion was small. ‘It’s hard to see a banking crisis,’ St. Louis Federal Reserve Bank President J …
READ MOREThe Euro keeps tumbling as international investors are loosing faith in the Eurozone. The currency has so far fallen 14 percent against the dollar this year. There is fear that contagion could trigger “Greek” debt crises among other EU countries with w …
READ MORE“Inflations have undermined the cultural and economic fabric of society, bringing social chaos and revolution. One example is the Great Chinese Inflation of the 1930s and 1940s. Indeed, the destruction of the Chinese monetary system during this period …
READ MORE“In the commercial, Whitacre says GM has ‘repaid our government loan in full.’ Rep. Paul Ryan (R-Wis.) noted that GM used government funds to pay back the government: It ‘simply transferred $6.7 billion from one taxpayer-funded TARP account to another. …
READ MORE“the world is facing a major sovereign debt crisis that will squeeze economic growth and possibly deliver a series of debt default events down the road. Sovereign debt issuance is now sucking up 25 per cent of available world savings and that will sque …
READ MORE“While few doubt that very high inflation is bad for growth, there is less agreement about the effects of moderate inflation. Using panel regressions and allowing for a nonlinear specification, this paper finds a statistically and economically signific …
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