Misunderstanding Volcker
A reappraisal of Volcker, who was more hostile to workers and less hard on financiers than the press would have you believe.
Read more...A reappraisal of Volcker, who was more hostile to workers and less hard on financiers than the press would have you believe.
Read more...How the Fed’s fingerprints are all over the repo mess.
Read more...The first major discussion of negative interest rates recounted in the FOMC minutes show serious disapproval.
Read more...It is bizarre to see the Fed present data showing the Gilded Age level of wealth accumulation by the 1% as if that were a badge of honor.
Read more...An explanation of the Federal Reserve money system.
Read more...Is praise of negative real interest rates in Europe making a virtue out of (mis)perceived necessity?
Read more...Mark Carney talks about digital soverign currencies. But is he really describing nationalization? And if so, whither the commercial banks?
Read more...Bank of England Governor Mark Carney’s proposal to invent to replace the US dollar as the key reserve currency with a “synthetic hegemonic currency.”
Read more...Why the Fed should be embarrassed.
Read more...Larry Summers, a barometer of leading edge conventional wisdom, questions Keynesianism as a distortion of Keynes and for its overconfidence in monetary policy.
Read more...Central banks don’t have the tools to address our problems. It will take well-constructed fiscal policy to set right our topsy-turvy economy.
Read more...Seeking reader input on the health of their economy.
Read more...A dubious proposal to continue over-reliance on monetary policy, this time with a quantitative easing scheme, instead of fiscal spending.
Read more...Turns out Trump was not all wrong in saying the dollar was overpriced.
Read more...In a 1946 classic, New York Fed chairman Beardsley Ruml explains why taxes aren’t necessary for Federal spending and argues against corporate income taxes.
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