Tim Geithner defends himself before Congress
Video embedded below. See also Democratic Rep. DeFazio Calls for Geithner and Summers to Be Fired - Yves Smith
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Browsing Tag
monetary policy
If the U.S. stopped issuing treasuries, would it go broke?
Here’s another interesting piece from Randall Wray, the economics professor from University of Missouri-Kansas City (that same school which employs Bill Black of “The Best Way to Rob a bank is to own one” fame).
Wray has a lot to say…
Max Keiser on dollar: Buffett’s toilet paper opium for China
Max Keiser certainly has a way with words. In one of his latest TV appearances, using the colorful analogy of “Warren Buffett’s toilet paper,” he calls the U.S. dollar worthless. He goes on to say that China is addicted to this worthless…
Roubini: For unemployment "the worst is yet to come"
Nouriel Roubini, writing in the New York Daily News , said on Sunday that “unemployed Americans should hunker down for more job losses” given the likelihood of a job less recovery. This was as gloomy a piece as I have seen from Roubini in…
China slams U.S. for inflating global asset prices via carry trade
On the eve of U.S. President Barack Obama’s visit to China, a major Chinese official has criticized U.S. monetary policy in unusually harsh language. Liu Mingkang, China Banking Regulatory Commission chairman said the zero interest rate…
Bill Gross: Fed on hold through 2010
Bill Gross of Pimco spoke on Bloomberg with Tom Keene and Ken Prewitt. He thinks the U.S. is entering a new normal of low nominal GDP growth. However, financial bets have been made on 6-7 percent nominal GDP (think pension…
Hong Kong: “America is doing exactly what Japan did last time”
Hong Kong’s leader Donald Tsang has come out with a scathing criticism of U.S. monetary policy, comparing it to Japan’s which he believes contributed to 1997’s Asian crisis. This is the most direct and strident criticism of the U.S. Federal…
Ten lessons from financial crisis investors will soon forget
A friend sent me the following presentation earlier in the week when I was feeling a bit ill. So I neglected to post it. But, I want to return to it because it is in keeping with my recovery/depression theme. These are the issues that…
If the Fed is looking to inflate away problems, what should Asia do?
Andy Xie thinks the Fed is on an inflationary path. Last month, he wrote an article in Caijing which says that ‘stagflation lite’ is the Federal Reserve’s preferred outcome. What’s interesting is his recent article about the need for…
All bubbles are equal, but some bubbles are more equal than others
Columbia University Professor and former Federal Reserve official Frederic Mishkin wrote a much-discussed Op-Ed in the Financial Times yesterday. In it, he asks Are potential asset-price bubbles always dangerous? He answers this…