Friday, 01 August 2014

Monthly Archives April 2010

“A Three-Point Plan to Save the Euro”

Posted by Tom Duncan
April 30, 2010

“The rescue package requested by Greece will, if endorsed, buy the eurozone six months, perhaps a year at most. By then, the Greek government will have exhausted the aid and be forced to ask for more or to borrow at astronomical rates. This assumes that, before then, Greece does not precipitate into an even deeper […]

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“Senate Ends Financial-Bill Standoff”

Posted by Tom Duncan
April 29, 2010

“Lawmakers ended the three-day standoff holding up action on the financial-overhaul bill, setting up a Senate debate in which both sides will be maneuvering for advantage. The breakthrough came in a bipartisan agreement on a single contentious element of the overhaul proposal: the creation of new government authority to wind down failing financial firms. Democrats, […]

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What Austrian Economics Can Tell Us about the Crisis

April 28, 2010

The recent financial crisis has called into question several basic tenets of mainstream macroeconomics. In the words of William White, former chief economist of the Bank for International Settlements (BIS), “the prevailing paradigm of macroeconomics allows no room for crises of the sort we are experiencing.” White and his BIS colleagues were among the few […]

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“Greece’s Threat to the Euro”

Posted by Tom Duncan
April 28, 2010

“All too often in the midst of an economic and financial crisis, policymakers either engage in denial or else take flights into fantasy. Sadly, the present Greek crisis is proving to be no exception. Rather than recognising the Greek crisis for the solvency issue that it is, European policymakers seem to be convincing themselves that […]

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“The Limits of Monetary Policy”

Posted by Tom Duncan
April 28, 2010

“History has shown that monetary stability—money growth consistent with a stable and predictable value of money—is an important determinant of economic stability. Safeguarding the long-run purchasing power of money is also essential for the future of private property and a free society. In the United States, persistent inflation has eroded the value of money and […]

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“The Case for Auditing the Fed is Obvious”

Posted by Tom Duncan
April 28, 2010

“Recently, the Federal Reserve has significantly altered the procedures and goals that it had followed for decades. It has more than doubled its balance sheet, paid interest to banks on reserves held as deposits with the Fed, made decisions about which institutions to prop up and which should be allowed to fail, invested in assets […]

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