The fiscal cliff is not the end of the world
Today is supposed to be the end of the world – at least according to classic Mayan accounts (and Hollywood?). But so far we are still here and there are not really any signs that the world really is...
View ArticleAnswering questions on “Quora” about Market Monetarism
I recently signed up for Quora. According to Wikipedia Quora “is a question-and-answer website created, edited and organized by its community of users.” I am not a frequent user of Quora but drop by...
View ArticleJPIrving on why not to fear the fiscal cliff
Turn on the TV and watch five minutes of CNBC or Bloomberg TV these days and you get the impression that the world is coming to an end as a result of the fiscal cliff. However, the contrast to this is...
View ArticleThe fiscal cliff has never been a market theme
When I over the last couple of days have looked at my twitter account nine of ten tweets have been about the “fiscal cliff” and the financial media all over the world have been all about that horrible...
View ArticleThe trillion dollar coin is an utterly idiotic idea
Following US political debate these days is like following a bad parody of a third world banana republic and even though I the deepest respect for Americans and US in general I must say it is hard not...
View ArticleJeff Cox is puzzled – maybe because he never asked anybody about monetary policy
This is CNBC’s Jeff Cox: Investors who fled in fear over potentially massive tax increases associated with the “fiscal cliff” have barely broken a sweat over corresponding spending cuts that are only...
View ArticleThe ultimate sign of recovery – no reason to freak out about higher bond yields
This is from CNBC.com: U.S. Treasurys prices eased for a second day after jobless claims data suggested solid improvement in the labor market, while stocks’ gains undermined the appeal of lower-risk...
View ArticleThere is no ’fiscal cliff’ in Japan – a simple AS-AD analysis
It is now very clear that what Milton Friedman advocated the Bank of Japan should do back in the mid-1990s – to expand the money base to get Japan out of deflation – is in fact working. Nominal...
View ArticleKuroda’s masterful forward guidance
This is from cnbc.com: Talk of further monetary stimulus from the Bank of Japan helped push the yen to a six-month low and lifted the Nikkei to a six-month high on Tuesday, and the move in Japanese...
View ArticleYellen is transforming the US economy into her favourite textbook model
When you read the standard macroeconomic textbook you will be introduced to different macroeconomic models and the characteristics of these models are often described as keynesian and...
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