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“The world’s currencies are gyrating, but the strains are being felt beyond financial capitals and corporate boardrooms. Millions of families in developing countries rely on relatives sending dollars, euros and other weakened currencies from abroad to …
READ MORE“Unfortunately for defenders of Fed policy, today’s paper is filled with stories of rising inflation. In Singapore, consumer price inflation is running at 5.5%. In Vietnam, consumer price inflation is running at over 12%. There are food riots in India. …
READ MORE“One of the more durable achievements of the previous Government was the establishment of the Monetary Policy Committee (MPC), whose work – for around a decade – was widely praised. As the recession took hold, the MPC does seem to have been seriously o …
READ MORE“Rather helpfully, on the Bank’s website there is an explanation of how Quantitative Easing was supposed to improve the economy. Quite clearly, the Bank explains that they purchased British Government bonds (gilts) and high quality (investment grade) b …
READ MORE“Economist Judy Shelton, author of Money Meltdown and The Coming Soviet Crash, recently wrote A Guide to Sound Money as part of her work co-directing the Sound Money Project for the Atlas Economic Research Foundation (www.atlasnetwork.org). The guide w …
READ MORE“China and India blame the U.S. Federal Reserve for their difficulties in maintaining stable prices. The International Monetary Fund and the United Nations, always responsive to the complaints of developing nations, are suggesting alternatives to the d …
READ MORE“About seventy percent of American households own their own homes, and for many their homes represent the majority of their net worth. As evident by the cascading mortgage market meltdown and widespread defaults and financial bankruptcies, housing poli …
READ MORE“There are two lessons here. One short-term, the other long-term. First, policymakers and investors need to shake off the belief that the current inflation spike is temporary. Even if food and energy costs were to temper in the coming months, core pric …
READ MORE“Goods inflation has outstripped services inflation for long stretches since mid-2007, something that hadn’t happened since the 1970s. For most of the last 30 years, goods prices had been held down, in part, by cheap imports from low-wage countries lik …
READ MORE“In asking whether the recent financial crisis could have been avoided, the crucial fact is that crises of various flavors have occurred for centuries in countries around the world. Thus, any explanation based mainly on recent factors — subprime lendin …
READ MORE“Federal Reserve monetary policy over the past 15 years or so has produced bubble after bubble,and each bubble (or each group of contemporaneous bubbles) is bigger in aggregate and more damaging than the one that preceded it. Each bubble destroys part …
READ MORE“One of the most important concepts in economic theory is the quantity of money. However, when going from theory to practical application, things get messy. In the real world, it’s not obvious how to count up the amount of “money” in the economy at any …
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