The last post I wrote on endogenous money and fully reserved banking set out a case for viewing the demand for credit to attain real or financial assets as a fundamental aspect of any monetary system. The point of...
I want to direct you to a post at the Institute for Public Accuracy that features political economy commentator Tom Ferguson because his analysis of exit polls is interesting. What he has picked up on is that the big...
The global economy has been slowing for nearly a year now, both in developed economies and in emerging markets. Things were already weak before this global growth slowdown began. It almost seems like we have been in...
I was on RT’s Capital Account on Friday night talking to Lauren Lyster about QE and the conversation moved more into the realm of fiat currency and government’s coercive taxing power. This is particularly relevant given...
I want to highlight the end of Fed Chairman Ben Bernanke’s speech at Jackson Hole yesterday because he reiterated something he has been saying for a while now – that the Fed will do more but it won’t be able to...
A few hours ago I wrote a rather downbeat post on the prospects for the US economy that continued the thoughts from an article I wrote in the New York Times. A number of other sources have confirmed some of the logic...
I have Bloomberg copy and a video of a recent performance by ECRI’s Lakshman Achuthan on Tom Keene’s show. A lot of people have been pouring scorn on business cycle forecaster Achuthan because of his...
I was on BNN’s Headline with Howard Green last week as the Fed made its rate decision and announced it would extend Operation Twist to the end of the year. Here’s the video. On the show, I said that the Fed’s move...
Naiwnością było sądzić, że bailouty uratują strefę euro, bo jej problemy są daleko głębsze niż Gecja. Jeśli obecna polityka będzie kontynuowana, strefa euro rozpadnie się.
The global economy is in an economic depression. This post is a brief outline in bullet points of my macro view of that depression and the global financial crisis which caused it. I highlight causes, effects and...