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Browsing Category
Political Economy
“I am determined that the American dollar must never again be a hostage in the hands of…
Below is the video of Richard Nixon closing the gold window exactly 43 years ago today. Hat tip to Raja Korman
Europe: A plan to boost economy by cutting taxes
By Andrea Terzi
originally published at Social Europe and republished with consent of Author
The anti-austerity vote in the European elections reflected two different kinds of discontent. One is a feeling of frustration, which is…
QE is fiscal policy
By Frances Coppola
A new paper by Johnston and Pugh of the legal department of the University of Sheffield discusses the legality and the effectiveness of QE and its relatives, including the ECB's OMT "whatever it takes" promise.
The…
The EU weighs level three sanctions on Russia just as the European economy improves
This is a long-form post on Ukraine. The big news, however, is from the European Union where the PMIs and a slew of other economic data came out today. The data showed the European economy improving broadly from its weakened recovery…
Some brief thoughts on framing the war in Ukraine
As the war in Ukraine moves to the center of global consciousness, I think it is important to remember the various actors’ positioning, constraints and likely agendas. As much as we would like to know ‘the truth’, the reality is always that…
The political economy of the military conflict in Ukraine
The geopolitical situation regarding the conflict in Ukraine has escalated considerably due to the downing of a passenger jet from the Netherlands to Malaysia. Given the visceral and gruesome nature of the events now unfolding, domestic…
More on how loss socialization actually happens
Michael Pettis has a good piece on debt and credit that I ran on the blog this morning. His thoughts on loss socialization are important not just in the context of China but also of other markets like Europe, the US, Canada and Australia…
Why the European sovereign debt crisis is not over
Earlier today, I had an interesting back and forth on Twitter with Edward Hugh, Claus Vistesen and Matthew Lynn about Europe and the ECB. I think we all believe there is more pain to come for Europe and likely there will be writedowns. But…
Exaggerating the dollar’s demise as reserve currency
By Marc Chandler
The headline of the Financial Times today reads "Paris rails against the dollar's dominance."; It could have been written nearly any time in the past half century. After all it was a former French President Giscard…
The euro crisis: Muddling through, or on the way to a more perfect euro union?
After a promising first decade, the Eurozone faced a severe crisis. This column looks at the Eurozone’s short history through the lens of an evolutionary approach to forming new institutions. German dominance has allowed the euro to achieve…