Blaming The Boom Basis
Once the sick man of the global economy, Europe’s system had roared back in 2017. According to the narrative, everything is right right now on the Continent. Manufacturing couldn’t possibly be any better, and the [...]
Independence, At Some Point
The Federal Reserve is ostensibly an independent agency of the government. Already it is beset by a contradiction. How can it be independent if it is otherwise an arm of the federal structure? It’s a [...]
Not At All The Inflation They’ve Been Hoping For
The National Association of Realtors is confused. The trade group for real estate professionals and salespeople just reported a significant drop in the level of resales for January 2018. After peaking at an annual pace [...]
The Einstein Stimulus Equation
The housing bubble began to reverse in the middle of 2006. Strangely, Economists presented with the possibility were almost uniformly confident that it wouldn’t matter. Forgetting the market and liquidity issues, even by the middle [...]
What The Petroyuan Is Not
In mainstream monetary convention, bank reserves are at the center of the monetary pyramid. They are the byproduct of any central bank policy which requires direct action. In the US system, they had been absent, [...]
Stubborn Recoveries And The Bad Ideas That Follow From Them
We have ample enough evidence for the efficacy, or inefficacy really, of tax cuts as fiscal stimulus. They have been deployed numerous times all over the world the last ten years, and the results have [...]
A Rough Sketch For Hong Kong, China, Maybe A Lot More
What we know about what’s going on in Hong Kong is limited. That’s a real shame because I have no doubt what has been transpiring is important for a lot more than Hong Kong and [...]
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