money

Here is more of Marc Faber, this time with Stephen Roach joining from Asia. Faber starts things off by making a point I have made many times in the past, namely that the Federal Reserve’s easy money policy is asymmetric; they are quick to…

In the wake of news about President Obama’s new Too Big to Fail Tax and Barry Ritholtz’s post on it, I had an in-depth conversation on the issue with a whole group of people, including Barry. Most of the group was all for the tax.  I…

China has been very successful in maintaining GDP growth in the midst of one of the worst global downturns on record.  In 2009, the concern was how an export collapse would trigger slow growth and unemployment. But as 2010 begins, for…

Federal Reserve Chairman Ben Bernanke recently defended the Federal Reserve’s low-interest rate monetary policy which preceded the housing bubble in the United States. Bernanke instead pointed to a lack of regulatory controls as the major…

Marshall Auerback here with a commentary on Robert Rubin’s recent Newsweek article on getting the economy back on track. As we all know, during his tenure as Treasury Secretary, Robert Rubin laid the groundwork for today's crisis through…

I wrote a post yesterday (The Fed’s exit strategy) to explain the mechanics surrounding Monday’s Federal Reserve announcement that it is offering CD accounts to banks. The Federal Reserve does not control the demand for credit and therefore…

Randy Wray says: The Federal Reserve on Monday proposed allowing banks to park their reserves at the central bank, a move aimed at weaning the economy off extraordinary infusions of cash and curbing inflation. The Fed would create the…

This comes via the FT: Latvia’s prime minister has warned Swedish banks they risk choking off recovery in the Baltic state’s crisis-hit economy unless they resume lending. Banks such as Swedbank and SEB, which dominate the Latvian…

For the period leading up to the panic last year, I had been warning of a rather severe recession. My view at the time was that what was needed was a realignment of America’s industrial organization away from finance and housing where…

Note: this post originally was posted without correct attribution to Bill Mitchell, who writes a blog called Billy Blog where he had posted the thoughts now attributed to him below. Bill is a well-regarded Professor of Economics at the…