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Browsing Category
Monetary System
Let’s talk about QE, inflation, and consumer demand
The Fed, for whatever reason, has induced a shift in private portfolio preferences simply by talking about something. But I think the point commentators like the Pragmatic Capitalist make is indisputably correct. The policy…
South Korea proposed 14% withholding tax puts spotlight on ‘currency war’
Bloomberg notes:
South Korea may revive a 14 percent tax on domestic Treasury and central bank bonds held by foreigners as early as January to curb foreign-exchange volatility, a ruling party lawmaker said.
“If we don’t do it right now…
Is the foreclosure crisis overblown?
Here are Andrew Ross Sorkin and Joe Nocera of the New York Times having a video debate about the foreclosure crisis. Nocera thinks this is a key economic issue. Sorkin thinks the issue is overblown. My take: For political reasons,…
Ambac Files for Bankruptcy
This is something that we were talking about last November: Bond insurer Ambac Financial has warned bankruptcy is a distinct possibility, sending its shares plummeting more than 30% today. What is intriguing about this pending…
Bove: Bank stocks will soar during QE’s “financial war with China”
In the fall of 2008, when the government took extreme steps to avoid a financial collapse, it created, what might be described as a partial liquidity trap. At the time, this was not a problem. The policymakers were not trying to assist…
Amateur Hour at the Federal Reserve
The following is a post I wrote earlier today at Naked Capitalism. I liked Ed's piece on QE called Does Ben Bernanke Believe The Stuff He Writes?. What caught my eye was his line, "As for monetary policy, while QE does not create new…
What Can Be Done?
Paul Davidson argues that the Obama Administration and its allies in Congress have not actually followed the prescriptions laid out by the British economist Lord Keynes in making economic policy – and that this is a principal reason for…
Eliminating Foreclosure Fraud: Setting the Record Straight on Bank of America, Part 2:
William K. Black is an Associate Professor of Economics and Law at the University of Missouri-Kansas City. He is a white-collar criminologist and was a senior financial regulator. He is the author of The Best Way to Rob a Bank is to Own…
Open Bank of America’s Books And Set the Record Straight
William K. Black is an Associate Professor of Economics and Law at the University of Missouri-Kansas City. He is a white-collar criminologist and was a senior financial regulator. He is the author of The Best Way to Rob a Bank is to Own…
How Quantitative Easing and Permanent Zero are Toxic To Bank Net Interest Margins
All eyes are on the Fed today because markets across the globe in bonds, equities, commodities and forex want to know how much quantitative easing (QE) the Federal Reserve will do and what assets they will buy. As US short-term interest…