“The neutral (or natural) rate of interest is the rate at which real GDP is growing at its trend rate, and inflation is stable. It is attributed to [...]

(Email from reader T.B.) “These various stages of capitalism, or finance, are interesting and descriptive. But I think the progression is rather [...]

(Email from reader T.B.) “These various stages of capitalism, or finance, are interesting and descriptive. But I think the progression is rather [...]

I found my thoughts this week returning to Hyman Minsky, financial evolution and Capitalism. Updating my 2013 Government Finance Quasi-Capitalism [...]

July 29 – Wall Street Journal (Anjani Trivedi): “The Bank of Japan is retreating into some much-needed introspection. And while it prepares to do [...]

July 20 – Financial Times (Eric Platt): “The Turkish lira weakened a new record low against the greenback on Wednesday after the country was cut [...]

Just another week of the “new normal”. Celebratory talk of “helicopter money,” a melt-up in stocks, another terrorist attack in France and a [...]

Seven UK mutual funds thus far have halted withdrawals and/or taken significant write-downs on fund asset values. Combined fund assets are about 20 [...]

Bloomberg’s Tom Keene (Monday, June 27, 2016): “If I take Paul Krugman and Alan Greenspan’s primal cry, ‘we want simple models.’ Is our [...]

“In this unique exploration of the role of risk in our society, Peter Bernstein argues that the notion of bringing risk under control is one of the [...]

Credit booms are powerfully reinforcing. New Credit provides additional purchasing power that spurs spending, economic output, corporate [...]

Credit booms are powerfully reinforcing. New Credit provides additional purchasing power that spurs spending, economic output, corporate [...]