India’s Cash Crisis May Take Months, Not Weeks To Resolve
India has not undertaken necessary logistics for implementing demonetization. Currency shortages may take months, not weeks, to resolve.
Read more...Category Archives: Currencies
India’s Cash Crackdown: Chaos Continues
India’s cash crackdown has caused widespread economic suffering and chaos, unduly hurting the poor, and sparked some political pushback.
Read more...Public Support for the Euro
Why a Brexit, even if it moves forward, seems unlikely to lead to a Eurozone breakup.
Read more...India Moves to Severely Restrict Use of Cash, Forcing Much of Economy Into Barter
India cancels currency notes of Rs 500 and Rs 1000 In an attempt to crack down on black money, corruption, counterfeiting, and terrorism.
Read more...Trade Globalisation in the Last Two Centuries
Trade globalization started earlier than most economists realize, undermining conventional stories about how it came about.
Read more...The City Will Decline—and We Will Be the Poorer for It
What might Brexit-induced losses to the City cost the UK economy?
Read more...Does Wall Street Do “God’s Work”? Or Even Anything Useful?
Bank executives frequently proclaim that Wall Street is vital to the nation’s economy and performs socially valuable services by raising capital, providing liquidity to investors, and ensuring that securities are priced accurately so that money flows to where it will be most productive. There’s just one problem: the Wall Street mantra isn’t true.
Read more...Liberty Reserve, Bitcoin, and the US Bank Regulatory Dog That Didn’t Bark
How a toothless US watchdog, FinCEN, has largely ignored money laundering via Bitcoin and other digital currencies.
Read more...Eurozone Stability Under Threat of a ‘Bad Shock’
Remarkably, an increasing number of economists believe the Eurozone has addressed its weaknesses. Shades of the Great Moderation, circa 2006.
Read more...Economists Mystified that Negative Interest Rates Aren’t Leading Consumers to Run Out and Spend
It been remarkable to witness the casual way in which central banks have plunged into negative interest rate terrain, based on questionable models. Now that this experiment isn’t working out so well, the response comes troubling close to, “Well, they work in theory, so we just need to do more or wait longer to see […]
Read more...Why the Crisis in Italy is Not Over
The structural roots of Italy’s economic problems.
Read more...China Destabilizes Global Economy by Exporting Deflation Through Currency Devaluation
China is behaving badly by trying to maintain growth at the cost of worsening deflation in the rest of the world.
Read more...Satyajit Das: What If Anything Does Brexit Really Signify?
An appraisal of the Brexit sound and fury.
Read more...Boris “Just Kidding” Johnson Outlines His Rainbows and Unicorns Brexit Plan
Boris Johnson is now the most hated person in the Western world.
Read more...Rebalancing, Wealth Transfers, and the Growth of Chinese Debt
By Michael Pettis, a Senior Associate at the Carnegie Endowment for International Peace and a finance professor at Peking University’s Guanghua School of Management. Cross posted from China Financial Markets. For the past ten years much of what I have written about debt in China was aimed mainly at trying to convince analysts and policymakers […]
Read more...