Sound Banking
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“Fed Nominees Support Expanded Duties”
“Hours before the Senate approved a far-reaching overhaul of Wall Street regulations on Thursday, President Obama’s three nominees to the board of the Federal Reserve said they were prepared to help the central bank handle its vastly expanded duties to ensure financial stability and oversee financial institutions, The New York Times’s Sewell Chan reported. “We…
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“The Uncertainty Principle”
“So Republicans Scott Brown, Olympia Snowe and Susan Collins now say they’ll provide the last crucial votes to get the Dodd-Frank financial reform through the Senate. Hmmm. Could this be Minority Leader Mitch McConnell’s secret plan to take back the Senate, guaranteeing another year or two of regulatory and lending uncertainty and thus slower economic…
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“Finance Overhaul Casts Long Shadow on the Plains”
“Farmer Jim Kreutz uses derivatives to soften the blow should the price of feed corn drop before harvest. His brother-in-law, feedlot owner Jon Reeson, turns to them to hedge the price of his steer. The local farmers’ co-op uses derivatives to finance fixed-price diesel for truckers who carry cattle to slaughter. And the packing plant…
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Money and Banking: The American Experience
The style of Money and Banking: The American Experience is one of article and comment. An author provides an article on the issues of money and banking in the U.S. and another academic provides a comment on said article. The table of contents is as follows: Introduction by Clifford F. Thies “Money and Banking: The…
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Getting Off Track
“Throughout history, financial crises have always been caused by excesses—frequently monetary excesses—which lead to a boom and an inevitable bust. In our current crisis it was a housing boom and bust that in turn led to financial turmoil in the United States and other countries. How did everything deteriorate so suddenly and dramatically? In Getting…
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“See You Next Tyranny Day”
“According to New York Times columnist Thomas L. Friedman in his mega-best-selling book Hot, Flat, and Crowded, China banned plastic bags a few years ago. “Bam! Just like that–1.3 billion people, theoretically, will stop using thin plastic bags,” he gushed. “Millions of barrels of petroleum will be saved, and mountains of garbage avoided.” China’s got…
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“Honest Money through bearer shares, a proposal”
“Nobody understands money, least of all economists. Too sweeping a statement? Perhaps. But every analysis of the workings of monetary systems that I have ever read has been seriously in error at one or more crucial points. This is true not only of the supposedly impartial opuses of academic economics, but also of the writings…
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“An Old Battlefront Returns in War on Euro”
“In 1998, four renegade German professors tried to stop the introduction of the euro with a legal challenge in Germany’s highest court. Now, 12 years later, they are fighting against a German bailout for Greece — and this time around, people are listening to them. Wilhelm Hankel is sitting on the stage at a meeting…
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Debt to GDP: Who Really Carries the Burden?
Over recent months, much has been made of the rapid increase in public debt levels. Protests against excess government spending in the U.S. and severe economic problems in debt-laden European countries have forced the federal debt to the forefront of national issues. There are, of course, those who attempt to justify the massive debt—if we…
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“Haste Makes Waste in Financial Regulatory Bill”
“The Congressional Conference Committee worked all night on Friday, June 25, finally quitting at 5:37 in the morning, so that President Obama could go to the G-20 Summit in Canada saying that Congress had finished a bill. Throughout the night comments were penciled in on the 2,315-page bill, so many in fact that the committee…
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“Fed Nominees Support Expanded Duties”
“Hours before the Senate approved a far-reaching overhaul of Wall Street regulations on Thursday, President Obama’s three nominees to the board of the Federal Reserve said they were prepared to help the central bank handle its vastly expanded duties to ensure financial stability and oversee financial institutions, The New York Times’s Sewell Chan reported. “We…
-
“The Uncertainty Principle”
“So Republicans Scott Brown, Olympia Snowe and Susan Collins now say they’ll provide the last crucial votes to get the Dodd-Frank financial reform through the Senate. Hmmm. Could this be Minority Leader Mitch McConnell’s secret plan to take back the Senate, guaranteeing another year or two of regulatory and lending uncertainty and thus slower economic…
-
“Finance Overhaul Casts Long Shadow on the Plains”
“Farmer Jim Kreutz uses derivatives to soften the blow should the price of feed corn drop before harvest. His brother-in-law, feedlot owner Jon Reeson, turns to them to hedge the price of his steer. The local farmers’ co-op uses derivatives to finance fixed-price diesel for truckers who carry cattle to slaughter. And the packing plant…
-
Money and Banking: The American Experience
The style of Money and Banking: The American Experience is one of article and comment. An author provides an article on the issues of money and banking in the U.S. and another academic provides a comment on said article. The table of contents is as follows: Introduction by Clifford F. Thies “Money and Banking: The…
-
Getting Off Track
“Throughout history, financial crises have always been caused by excesses—frequently monetary excesses—which lead to a boom and an inevitable bust. In our current crisis it was a housing boom and bust that in turn led to financial turmoil in the United States and other countries. How did everything deteriorate so suddenly and dramatically? In Getting…
-
“See You Next Tyranny Day”
“According to New York Times columnist Thomas L. Friedman in his mega-best-selling book Hot, Flat, and Crowded, China banned plastic bags a few years ago. “Bam! Just like that–1.3 billion people, theoretically, will stop using thin plastic bags,” he gushed. “Millions of barrels of petroleum will be saved, and mountains of garbage avoided.” China’s got…
-
“Honest Money through bearer shares, a proposal”
“Nobody understands money, least of all economists. Too sweeping a statement? Perhaps. But every analysis of the workings of monetary systems that I have ever read has been seriously in error at one or more crucial points. This is true not only of the supposedly impartial opuses of academic economics, but also of the writings…
-
“An Old Battlefront Returns in War on Euro”
“In 1998, four renegade German professors tried to stop the introduction of the euro with a legal challenge in Germany’s highest court. Now, 12 years later, they are fighting against a German bailout for Greece — and this time around, people are listening to them. Wilhelm Hankel is sitting on the stage at a meeting…
-
Debt to GDP: Who Really Carries the Burden?
Over recent months, much has been made of the rapid increase in public debt levels. Protests against excess government spending in the U.S. and severe economic problems in debt-laden European countries have forced the federal debt to the forefront of national issues. There are, of course, those who attempt to justify the massive debt—if we…
-
“Haste Makes Waste in Financial Regulatory Bill”
“The Congressional Conference Committee worked all night on Friday, June 25, finally quitting at 5:37 in the morning, so that President Obama could go to the G-20 Summit in Canada saying that Congress had finished a bill. Throughout the night comments were penciled in on the 2,315-page bill, so many in fact that the committee…
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