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The Very Important Task Of Trying To Figure Out What Happened In The Middle

The whole point of any “stimulus” is to buy time. The idea is to keep the economy busy or, in the case of more purely monetary policy, happy during that time so that the economy on the demand side can on its own heal. In the parlance of orthodox economics, “stimulus” reduces the output gap, the difference between current output [...]

Some South American Chapters of the Ongoing ‘Dollar’ Epic

By Jeffrey P. Snider|2016-08-19T17:47:16-04:00August 19th, 2016|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In April 2009, the new Obama administration created somewhat of a political controversy when it was originally reported by the Wall Street Journal that the US was providing $2 billion or more to fund offshore drilling – in Brazil. To many on the “right”, that seemed quite hypocritical given the public stance on all things oil. My interest is entirely [...]

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