From the always excellent Money Illusion blog: The key point is that if the Fed pays attention to inflation at all, it should be increases in the price of stuff built with American labor. They shouldn’t care about the inflation rate that matches some mythical “cost of living,” as the Fed can’t do anything about […]
This is a Wellington blog that is written by economists who also really enjoy the football. As a result, given the recent big news regarding our local football club, I have to say something 😉 Terry has given up the A-league license of the Phoenix given the difficulties he is currently facing – and it […]
Agnitio asked me what has been going on recently, as I was complaining its a mess. I emailed him my summary, so I thought I’d also put them down here: The ECB announced that its going to accept some things as collateral – but dump others. Leaving markets confused about what the hell was going […]
Seriously. These guys have been fluffing around for so long that the entire financial system is in a panic. So they decide its a good time to announce they are going to start taxing financial transactions – but they haven’t decided the level yet or the full scope yet. Is Europe’s motto, during times of […]
Operation Twist hasn’t gone down particularly well has it. It could be that the policy was smaller than expected, it could be that growing political angst has made the idea of further Fed stimulus seem more unlikely, but either way a drop in asset prices and falling inflation expectations isn’t what we want to […]
FFS, just when it sounded like the Greens were going to come up with sensible policy prescriptions we get this absolute piece of rubbish. If this is how we base policy why don’t people just make plans as follows: I will talk with people in important tones during very serious meetings, I will offer to […]