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Browsing Category
Monetary System
What might history tell us about the Greek crisis?
By Michael Pettis. With the PBoC’s currency announcement last Saturday and the surge (!) in the value of RMB on Monday (all very kindly timed to add zest to my meetings this week in Boston, New York, and Washington), you would assume that…
Resource Hawk, Stimulus Dove
It's not my position. But I would think someone would articulate it. It sounds like what Mark Thoma would advocate, for example. That is, someone could advocate:
1 A larger deficit in the short term.
2. Specific, clear…
Josh Rosner On The Financial Reform Effort And Double Dip for US Economy in 2011
It looks like regulatory reform might have some teeth from the latest updates from Josh Rosner.
European Credit Crisis: Germans Throwing Stones
Paul Krugman has it right when he says this: I hold no brief for weak financial regulation in America. But it’s a bad sign that Germans still think of this as a made-in-America crisis. The truth is that the European housing bubble was…
A Flock of Fed Funds Forecasts
A post by Annaly Capital Management. There has been some chatter recently on the direction of traditional monetary policy (i.e., the Federal Reserve changing the Fed Funds target rate to influence the availability and cost of money and…
The largest European banks by assets
Because the European Union will stress-test its 25 largest banks, it makes sense to compile a comprehensive list of Europe's largest banks.
Chart of the day: Exposures to Greece, Ireland, Portugal and Spain
I am going through the BIS Quarterly Review that just came out and it is packed with useful information about the global economy. With regard to the sovereign debt crisis, I found the following chart a good one for getting a feel for…
Money the government owes us
Just as a point of fact, it bears noting that government debt is a government liability in much the same way that bank notes are. what is the functional difference for the federal government between Treasury securities and bank notes?…
Delta in the Value of a Promise
By Annaly Capital Management. What is a dollar? As far as we can tell, there is no legal definition of what it is, no statement that begins, “The dollar is…” Instead, the dollar is something that is defined by other things. When the…
Alpha Creditor Revaluations in the 1930s versus the 2010s
I am trying to make sense of the revaluation talk that surrounds the Sino-American trade relationship. Here are some thoughts on the issue. Your comments are appreciated.
In the 1920s, the United States was the Alpha Creditor…