International
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“Dollar Bears”
“What matters is to have an agreed-upon unit of account in terms of which trading partners could price every contractual agreement, preferably having the medium of exchange serve as the unit of account, too. This anchor is missing in the international monetary system today, and is one reason for the financial havoc surrounding us. The…
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“Dollar Reaches 15-Year Low Versus Yen”
“The dollar dropped to a 15-year low against the yen and the weakest in more than eight months against the euro amid growing expectations the Federal Reserve will expand credit easing to sustain the U.S. recovery.” Read more. “Dollar Reaches 15-Year Low Versus Yen on Fed; Euro Strengthens” Keith Jenkins and Yasuhiko Seki Businessweek, October…
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“The Dynamics of Chronic Inflation in Brazil, 1968-1985”
“This article develops an error-correction model with the aim of analyzing the behavior of prices during a period of chronic inflation in Brazil. The degree of inflationary inertia is estimated, and tests for the importance of disequilibria in the domestic-money, foreign-goods, labor, and domestic goods markets on inflation are carried out.” Read more. “The Dynamics…
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Russia – “Inflation Could Trip New Exchange-rate Crisis”
“This happy outcome was a result of serious efforts by the Finance Ministry to contain budget expenditure and by the Central Bank to restrain excessive monetary growth. Inflation control became the most important priority for the government because, apart from aiding economic recovery, a low inflation rate allows the Central Bank to keep its nominal…
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Euro Will Unravel, and Soon — AEI
By Desmond Lachman AEI Online Tuesday, September 14, 2010 “The outbreak of a sovereign-debt crisis in the eurozone’s peripheral economies has been among the more important developments in the global economy in 2010. Sadly, this crisis will likely intensify in the months ahead as markets increasingly focus on the intractable solvency and competitiveness issues confronting…
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The Reserve-Currency Curse — WSJ
By John D. Mueller POLITICAL ECONOMY The Wall Street Journal Publication Date: September 4, 1986 Since 1971 the world has suffered two great inflations and three recessions. Hopes for a world-wide economic expansion have been interrupted once again, by an economic slowdown and the threat of a trade war. Will the world ever settle down to…
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“Golden Opportunity for Social Security”
“The time has come to get our financial situation in order. I’m not talking about the pros and cons of another stimulus or if the Bush/Obama plans “worked” or not, but a more substantive proposal. Let’s get some of our gold back from the International Monetary Fund, monetize it, and put it in the Social…
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China’s Real Monetary Problem — WSJ
REVIEW & OUTLOOK — A bipartisan swarm pounded Treasury Secretary Timothy Geithner on Capitol Hill yesterday for not doing enough to stop China’s supposed money mischief. The sessions made clear that pressure is building to impose punitive tariffs on Chinese goods if the yuan doesn’t appreciate in value. While it’s true that China’s monetary policy…
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The German Miracle: Another Look
Earlier this summer George Soros and some leading Keynesian economists criticized what they regarded as Germany’s overly strict fiscal discipline. Yet Germany’s real output expanded at a robust 9% annual rate in the second quarter, while the U.S. economy grew at an anemic 1.6% rate. So is Germany now a role model for how to…
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The Perils of Monetary Management
Recently the Chinese authorities announced an end to the dollar peg and a move towards a more flexible exchange rate, as commented upon in a previous post. However, there are fears among Chinese officials that this could lead to a wide range of problems, including speculation and hot money inflows, as well as undermining the…
-
“Dollar Bears”
“What matters is to have an agreed-upon unit of account in terms of which trading partners could price every contractual agreement, preferably having the medium of exchange serve as the unit of account, too. This anchor is missing in the international monetary system today, and is one reason for the financial havoc surrounding us. The…
-
“Dollar Reaches 15-Year Low Versus Yen”
“The dollar dropped to a 15-year low against the yen and the weakest in more than eight months against the euro amid growing expectations the Federal Reserve will expand credit easing to sustain the U.S. recovery.” Read more. “Dollar Reaches 15-Year Low Versus Yen on Fed; Euro Strengthens” Keith Jenkins and Yasuhiko Seki Businessweek, October…
-
“The Dynamics of Chronic Inflation in Brazil, 1968-1985”
“This article develops an error-correction model with the aim of analyzing the behavior of prices during a period of chronic inflation in Brazil. The degree of inflationary inertia is estimated, and tests for the importance of disequilibria in the domestic-money, foreign-goods, labor, and domestic goods markets on inflation are carried out.” Read more. “The Dynamics…
-
Russia – “Inflation Could Trip New Exchange-rate Crisis”
“This happy outcome was a result of serious efforts by the Finance Ministry to contain budget expenditure and by the Central Bank to restrain excessive monetary growth. Inflation control became the most important priority for the government because, apart from aiding economic recovery, a low inflation rate allows the Central Bank to keep its nominal…
-
Euro Will Unravel, and Soon — AEI
By Desmond Lachman AEI Online Tuesday, September 14, 2010 “The outbreak of a sovereign-debt crisis in the eurozone’s peripheral economies has been among the more important developments in the global economy in 2010. Sadly, this crisis will likely intensify in the months ahead as markets increasingly focus on the intractable solvency and competitiveness issues confronting…
-
The Reserve-Currency Curse — WSJ
By John D. Mueller POLITICAL ECONOMY The Wall Street Journal Publication Date: September 4, 1986 Since 1971 the world has suffered two great inflations and three recessions. Hopes for a world-wide economic expansion have been interrupted once again, by an economic slowdown and the threat of a trade war. Will the world ever settle down to…
-
“Golden Opportunity for Social Security”
“The time has come to get our financial situation in order. I’m not talking about the pros and cons of another stimulus or if the Bush/Obama plans “worked” or not, but a more substantive proposal. Let’s get some of our gold back from the International Monetary Fund, monetize it, and put it in the Social…
-
China’s Real Monetary Problem — WSJ
REVIEW & OUTLOOK — A bipartisan swarm pounded Treasury Secretary Timothy Geithner on Capitol Hill yesterday for not doing enough to stop China’s supposed money mischief. The sessions made clear that pressure is building to impose punitive tariffs on Chinese goods if the yuan doesn’t appreciate in value. While it’s true that China’s monetary policy…
-
The German Miracle: Another Look
Earlier this summer George Soros and some leading Keynesian economists criticized what they regarded as Germany’s overly strict fiscal discipline. Yet Germany’s real output expanded at a robust 9% annual rate in the second quarter, while the U.S. economy grew at an anemic 1.6% rate. So is Germany now a role model for how to…
-
The Perils of Monetary Management
Recently the Chinese authorities announced an end to the dollar peg and a move towards a more flexible exchange rate, as commented upon in a previous post. However, there are fears among Chinese officials that this could lead to a wide range of problems, including speculation and hot money inflows, as well as undermining the…
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