Saturday, 29 April 2017

Monthly Archives December 2012

Bernanke Hangs Loose

Posted by Gonzalo Schwarz
December 26, 2012

by Frank Shostak On Wednesday December 12, 2012 Fed policy makers announced that they will boost their main stimulus tool by adding $45 billion of monthly Treasury purchases to an existing program to buy $40 billion of mortgage debt a month. This decision is likely to boost the Fed’s balance sheet from the present $2.86 trillion […]

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“Gold, and Frankincense and Myrrh”

Posted by Gonzalo Schwarz
December 25, 2012

by Ralph J. Benko There is a historical, cultural, and even regal dignity to gold. From the Gospel according to Matthew (King James Version): 2 Now when Jesus was born in Bethlehem of Judaea in the days of Herod the king, behold, there came wise men from the east to Jerusalem, Tintoretto, The Adoration of the […]

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Is a Gold Standard Necessarily Vulnerable to Speculative Attacks?

Posted by Gonzalo Schwarz
December 18, 2012

   by Lawrence H. White My frequent co-author George Selgin (2012) finds it “more doubtful [today] than ever before that any government-sponsored and administered gold standard will be sufficiently credible to either be spared from or to withstand redemption runs.” He quotes James D. Hamilton (2005) to similar effect:  given that central banks the Treasuries […]

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Further Inside the Brain of the Sound Money Advocate

Posted by Gonzalo Schwarz
December 18, 2012

by Anthony Randazzo Bloomberg’s recently (and quite rightly) christened “Forbes 30 Under 30” superstar Josh Barro is inside my head. Or at least that’s what the title of his recent post for The Ticker implies. But since he kindly didn’t dig deeper in exploring the depths of our depraved “Hard-Money Advocate” Brains, let me clear up […]

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Too Late, Fiscal Cliff. Bracket Creep Beat You To It.

Posted by Gonzalo Schwarz
December 17, 2012

by Devin Roundtree In order to avert next year’s automatic spending cuts, President Obama has called for a return to President Clinton’s higher tax rates on incomes over $200,000 ($250,000 for joint filers). But the President’s proposal will actually increase rates well beyond his democratic predecessor. Back in the 1970s when inflation ran wild, many […]

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Leszek Balcerowicz: The Anti-Bernanke

Posted by Gonzalo Schwarz
December 16, 2012

By MATTHEW KAMINSKI As an economic crisis manager, Leszek Balcerowicz has few peers. When communism fell in Europe, he pioneered “shock therapy” to slay hyperinflation and build a free market. In the late 1990s, he jammed a debt ceiling into his country’s constitution, handcuffing future free spenders. When he was central-bank governor from 2001 to 2007, […]

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