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Since the first assault on Turkey’s finances in 2018, which I wrote about multiple times (here, here, and here), I’ve been the lone voice telling everyone that President Recep Tayyip Erdogan is a lunatic but he’s a lunatic with a plan. That plan is to de-dollarize the...
Central banks are trapped. "Five years into the negative rate experiment, and a decade on in radical monetary improvisation, the central bankers are looking for a way back to normalcy. Not finding it, they are casting around for new ways to control what they seem...
In previous articles, we have outlined in great detail the many faults of the current monetary policy direction of major central banks and the large-scale economic impact of keeping interest rates artificially low. Among the worst offenders is the ECB, that is...
Unfortunately, spending is up 7.6% to $2.57 trillion. The largest increase is debt service, up 13.6% from last year. This is in a low interest rate environment. The Fed is trapped in maintaining low interest rates. Danielle DiMartino: "Fed controlled rates...
Paul Krugman must be pulling his hair out about now. He recently complained that it was almost impossible to figure out what MMTers were advocating, and then tried to pin them down with some very specific questions: Are MMTers claiming, as Kelton seems to, that there...
In the past two weeks, interest rates have gone up sharply, sparking turmoil in the stock market. To take one example, the rate on 10-year Treasury bonds went from 2.66% on Jan. 26 to close at 2.85% on Feb. 12. The recent moves have brought key interest rates up to...
Mark Thornton, Senior Fellow at the Mises Institute, discusses what president-elect Donald Trump’s economic and monetary policies are likely to be, considering his Reagan-like promises to increase government spending on the military and infrastructure, cut taxes, and...
According to some commentators the US federal budget deficit still remains a major economic problem notwithstanding that it draws less attention than in the past. The Federal Government budget had a surplus of $33.4 billion in September against a surplus of $90.9...
Imagine the Catholic Church (or any person or group of people) doing what the government does every day: Everyone who doesn’t give the Catholic Church 25% of his annual income every year will be put in jail. If he resists the Jesuit officer, the officer has the right...
FOREWORD BY JAY BHATTACHARYA, MD, PHD Diary of a Psychosis is different from all other books on Covid: it traces the development of the government response as it happened, bit by bit, and subjects it to relentless scrutiny: did any of it do any good? It thereby...
