money

Last week, I highlighted some of the ideas of Australian economist Steve Keen in my post, “Steve Keen and the spectre of terminal debt.”  Keen is of the Minsky camp and he believes that an unsustainable debt bubble has build up in the…

Bloomberg News editor-in-chief Matt Winkler wrote an Op-Ed in the Wall Street Journal yesterday explaining why he is after the Federal Reserve to come clean about it’s secret lending program during the height of the financial crisis.…

Stephen Roach doesn’t mince words.  He calls monetary policy during the bubble years “reckless and irresponsible” and he thinks politics is thwarting any meaningful regulatory reform, a view I also hold. I think the point of Roach’s…

Ron Paul was on CNN this morning talking about unemployment, the credit crisis, the Federal Reserve and a lot more.

In 2002, the global economy was weak and equity markets around the world were at multi-year lows following the greatest equity bubble and bust in world history. Many policy makers including Alan Greenspan, chairman of the U.S. Federal…

Yesterday I mentioned the announcement by the FDIC to end its debt guarantee program and opined that this was the first sign of tightening/liquidity withdrawal by the U.S. government.  Today the evidence is mounting that this is indeed…

Bloomberg News is writing a very worthy series of retrospective articles on the financial panic of September 2008.  I profiled the first one on Monday.  The next in the series came out yesterday and it makes for riveting and…

I just received notice that the FDIC Board has approved the phase out of the Temporary Liquidity Guarantee Program (TLGP) in a first clear sign that the U.S. Federal Government has started policy normalisation. The FDIC Board today adopted…

According to an account published in the Daily Telegraph by Ambrose Evans-Pritchard, the Chinese government is quite anxious about money printing in the United States and the effect this printing could have on China’s dollar denominated…

Chinese vice-premier Wang Qishan has been appointed to lead a taskforce to make the renminbi the currency of choice for trade settlements, especially with regional trading partners. HSBC economist Qu Hongbin believes this latest salvo in…