Economy News

from AIER

Established 1999

New England, USA

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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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    “Economic Recovery Slower Than Expected”

    “Federal Reserve leaders marked down their expectations for growth and inflation last month, concluding that the economic recovery is proceeding more slowly than they had thought in the spring but that the slowdown did not warrant new policy actions. But Fed leaders did agree to explore options for supporting the economy further in case conditions…

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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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    Gold Wars

    “This book is much more than a chronicle of gold wars. It is also an account of the historical failure of ‘Esperanto money.’ Over a hundred years ago, a Polish physician by the name of Ludovik Lazarus Zamenhof (1859-1917) created a synthetic language in the hope of removing the curse of Babel from mankind. According…

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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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    “A Free-Market Monetary System”

    “When a little over two years ago, at the second Lausanne Conference of this group, I threw out, almost as a sort of bitter joke, that there was no hope of ever again having decent money, unless we took from government the monopoly of issuing money and handed it over to private industry, I took…

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    “Pound Rises After Data Show Higher-Than-Expected Inflation”

    “The pound rose against the dollar, snapping a three-day drop, as reports showed inflation above economists’ forecasts and higher retail sales, stoking speculation that the Bank of England may raise interest rates. “Although inflation is supposed to be coming down, it’s not falling as expected,” said George Tchetvertakov, head of market research at Alpari Ltd.,…

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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…