Wow. Portugal just did something extraordinary. In its most recent election, parties of the left — anti-austerity, anti-business, mistrustful of the euro and other extra-national institutions — gained a ... Read More
New Age monetary policy has begun to resemble the form of insanity in which a patient repeats the same behavior while expecting a different outcome. Throughout the developed world, ... Read More
The fastest-growing countries around the world, now and probably for the next few decades, will not be the high-income countries. As a result, the global distribution of income will ... Read More
Millions of Americans were gearing up for some huge event to happen in September, but the world didn’t end and now many of them have given up entirely on ... Read More
Not so long ago, a bank was by definition a business that took deposits from customers, paid them for the use of their money, and lent the cash to ... Read More
Gold is money, admittedly not often circulating as such today. Fiat currencies issued by governments have driven gold out of circulation. But where does this leave silver? Money-substitutes, bank ... Read More
You thought it was safe to drive 90 miles an hour on a rain-slicked narrow road while you were tipsy because the airbag would save you, but it still ... Read More
The biggest bank in the western world has just come out and declared that the global economy is “already in a recession”. According to British banking giant HSBC, global ... Read More
So what’s left in the toolbag of central banks and states to stimulate recessionary economies if QE has been discredited? The answer: Helicopter Money. We all know helicopter money of some ... Read More
The economy of the eurozone makes the US economy look like a picture of robust health by comparison. Richard Baldwin and Francesco Giavazzi have edited The Eurozone CrisisA Consensus ... Read More
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