Sound Banking
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“BOE Unanimously Kept Bond Plan at 200 Billion Pounds”
“Bank of England policy makers unanimously kept their bond-purchase plan at 200 billion pounds ($307 billion) in April as some officials showed mounting concern at the prospect of a prolonged bout of faster inflation. The nine-member Monetary Policy Committee, led by Governor Mervyn King, voted 9-0 to maintain the program because data in the previous…
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An Economy of Liars
Free markets depend on truth telling. Prices must reflect the valuations of consumers; interest rates must be reliable guides to entrepreneurs allocating capital across time; and a firm’s accounts must reflect the true value of the business. Rather than truth telling, we are becoming an economy of liars. The cause is straightforward: crony capitalism. Thomas…
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“Fed Kohn Paper: Crisis Early Warning Requires Better Data”
“While, in hindsight, some of the data available to the Federal Reserve and other authorities gave notice of the financial crisis, more data and a different approach to analyzing them are needed if a reliable ‘early warning system’ for future crises is to be developed, according to research by Federal Reserve Vice Chairman Donald Kohn…
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“The Financial Crisis Grinch”
Our friends at the Cato Institute have offered this podcast on the financial crisis. “The Financial Crisis Grinch” Featuring Gerald P. O’Driscoll, Jr. Novermber 24, 2008.
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The Swinging Pendulum
On Monday, April 5, the Future of Freedom Foundation and the George Mason University Econ Society hosted a lecture1 by Dr. Richard Ebeling, professor of economics at Northwood University and former president of the Foundation for Economic Education. Dr. Ebeling is an excellent speaker, eloquent and motivated, and this lecture did not disappoint. According to…
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Hyperinflation
“Inflation is a sustained increase in the aggregate price level. Hyperinflation is very high inflation. Although the threshold is arbitrary, economists generally reserve the term ‘hyperinflation’ to describe episodes when the monthly inflation rate is greater than 50 percent. At a monthly rate of 50 percent, an item that cost $1 on January 1 would…
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“Why Default on U.S. Treasuries is Likely”
“Almost everyone is aware that federal government spending in the United States is scheduled to skyrocket, primarily because of Social Security, Medicare, and Medicaid. Recent “stimulus” packages have accelerated the process. Only the naively optimistic actually believe that politicians will fully resolve this looming fiscal crisis with some judicious combination of tax hikes and program…
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“Misrepresenting ‘How We Arrived at This Moment’”
“What must be done to recover from this financial crisis? Barack Obama rightly stresses that we first must understand how today’s problems emerged. It is ‘only by understanding how we arrived at this moment that we’ll be able to lift ourselves out of this predicament.’ Unfortunately, Obama (along with most of the Washington establishment) has…
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“Garrett Demands Further Answers from Geithner”
“Rep. Scott Garrett (R-NJ) is calling on Treasury Secretary Timothy Geithner to clarify the uncertainty surrounding the status of the GSE debt; specifically, whether the corporate debt issued by Fannie and Freddie is considered sovereign debt.” Read more. “Garrett Demands Further Answers from Geithner Regarding GSE Debt” Press Release, March 23, 2010. Via Congressman Scott…
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“Irresponsible lending prohibited by OTF”
“The new requirements form part of new guidance from the Office of Fair Trading (OFT) to counteract irresponsible lending. ‘[We] expect all consumer credit businesses to fully comply with both the word and spirit of this guidance,’ the OFT said. The regulator can ultimately suspend a lender’s consumer credit licence.” Read more. “Irresponsible lending…
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“BOE Unanimously Kept Bond Plan at 200 Billion Pounds”
“Bank of England policy makers unanimously kept their bond-purchase plan at 200 billion pounds ($307 billion) in April as some officials showed mounting concern at the prospect of a prolonged bout of faster inflation. The nine-member Monetary Policy Committee, led by Governor Mervyn King, voted 9-0 to maintain the program because data in the previous…
-
An Economy of Liars
Free markets depend on truth telling. Prices must reflect the valuations of consumers; interest rates must be reliable guides to entrepreneurs allocating capital across time; and a firm’s accounts must reflect the true value of the business. Rather than truth telling, we are becoming an economy of liars. The cause is straightforward: crony capitalism. Thomas…
-
“Fed Kohn Paper: Crisis Early Warning Requires Better Data”
“While, in hindsight, some of the data available to the Federal Reserve and other authorities gave notice of the financial crisis, more data and a different approach to analyzing them are needed if a reliable ‘early warning system’ for future crises is to be developed, according to research by Federal Reserve Vice Chairman Donald Kohn…
-
“The Financial Crisis Grinch”
Our friends at the Cato Institute have offered this podcast on the financial crisis. “The Financial Crisis Grinch” Featuring Gerald P. O’Driscoll, Jr. Novermber 24, 2008.
-
The Swinging Pendulum
On Monday, April 5, the Future of Freedom Foundation and the George Mason University Econ Society hosted a lecture1 by Dr. Richard Ebeling, professor of economics at Northwood University and former president of the Foundation for Economic Education. Dr. Ebeling is an excellent speaker, eloquent and motivated, and this lecture did not disappoint. According to…
-
Hyperinflation
“Inflation is a sustained increase in the aggregate price level. Hyperinflation is very high inflation. Although the threshold is arbitrary, economists generally reserve the term ‘hyperinflation’ to describe episodes when the monthly inflation rate is greater than 50 percent. At a monthly rate of 50 percent, an item that cost $1 on January 1 would…
-
“Why Default on U.S. Treasuries is Likely”
“Almost everyone is aware that federal government spending in the United States is scheduled to skyrocket, primarily because of Social Security, Medicare, and Medicaid. Recent “stimulus” packages have accelerated the process. Only the naively optimistic actually believe that politicians will fully resolve this looming fiscal crisis with some judicious combination of tax hikes and program…
-
“Misrepresenting ‘How We Arrived at This Moment’”
“What must be done to recover from this financial crisis? Barack Obama rightly stresses that we first must understand how today’s problems emerged. It is ‘only by understanding how we arrived at this moment that we’ll be able to lift ourselves out of this predicament.’ Unfortunately, Obama (along with most of the Washington establishment) has…
-
“Garrett Demands Further Answers from Geithner”
“Rep. Scott Garrett (R-NJ) is calling on Treasury Secretary Timothy Geithner to clarify the uncertainty surrounding the status of the GSE debt; specifically, whether the corporate debt issued by Fannie and Freddie is considered sovereign debt.” Read more. “Garrett Demands Further Answers from Geithner Regarding GSE Debt” Press Release, March 23, 2010. Via Congressman Scott…
-
“Irresponsible lending prohibited by OTF”
“The new requirements form part of new guidance from the Office of Fair Trading (OFT) to counteract irresponsible lending. ‘[We] expect all consumer credit businesses to fully comply with both the word and spirit of this guidance,’ the OFT said. The regulator can ultimately suspend a lender’s consumer credit licence.” Read more. “Irresponsible lending…
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