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Trade negotiations are not necessary
Trade negotiations are not necessary From today’s Open Europe news summary: WTO CHIEF WARNS OF “COMPLEX AND DRAWN-OUT” TRADE NEGOTIATIONS AFTER BREXIT Roberto Azevêdo, Director-General of the WTO, has warned that it could take Britain decades to disentangle its trading relations with the EU and negotiate new ties with the rest of the world after Brexit. […]
Another reason to get rid of the euro
Another reason to get rid of the euro From today’s Open Europe news summary: EUROPEAN COMMISSION CONSIDERING NEW TOOLS TO PREVENT CASH OUTFLOWS FROM FAILING BANKS According to a document seen by the Financial Times, the European Commission is considering proposing a new ‘moratorium tool’ that would give national regulators the power to freeze payments to […]
Another step toward cash confiscation in Europe
Another step toward cash confiscation in Europe From today’s Open Europe news summary: ECB TO HALT PRODUCTION OF €500 NOTE, BUT IT WILL RETAIN ITS VALUE The European Central Bank announced yesterday that it would stop printing the €500 note from the end of 2018 due to, “concerns that this banknote could facilitate illicit activities.” […]
Mises.org: Keynes’s Critique of Econometrics is Surprisingly Good
MISES.ORG: KEYNES’S CRITIQUE OF ECONOMETRICS IS SURPRISINGLY GOOD In a recent article we had a brief look at Ragnar Frisch’s (1895–1973) vision of econometric model building. As mentioned, Frisch was the first economist chosen over Mises to win the Nobel Prize in 1969. In fact, there was a second one in the same year. Frisch won the […]
Draghi espouses the old “excess savings” nonsense
Draghi espouses the old “excess savings” nonsense From today’s Open Europe news summary: DRAGHI REBUKES ECB GERMAN CRITICS In a speech on Monday, the President of the European Central Bank, Mario Draghi, delivered a blunt rebuke to German criticism of the ECB’s low interest rate policy saying “There is a temptation to conclude that…very low […]
While America Debates the $20 Bill, China Moves Closer to Gold
While America Debates the $20 Bill, China Moves Closer to Gold On Wednesday, Jack Lew announced that the US Treasury was following Ben Bernanke’s advice and keeping Alexander Hamilton on the $10, instead deciding to bring Harriett Tubman to the $20. While Lew’s news left America distracted in debate over whose portrait should grace the Federal Reserve’s most popular […]
“Free Stuff” Isn’t All That It’s Cracked Up to Be
“Free Stuff” Isn’t All That It’s Cracked Up to Be To my British and American friends who must deal with the socialist nonsense of Bernie Sanders and Jeremy Corbyn, I found this poem. It was written by Rudyard Kipling, the writer most hated by English Socialists in the 40s and an opponent to the interventionist […]
The Fed Can’t Save Us
The Fed Can’t Save Us In December, the Fed hiked its target for the federal funds rate, which is the interest rate banks charge each other for overnight loans of reserves. Since 2008 the Fed’s target for the Fed Funds Rate had been a range of 0 percent – 0.25 percent (or what is referred […]
Keynes in 1939: The Coming War Will Solve our Unemployment Problem
Keynes in 1939: The Coming War Will Solve our Unemployment Problem On the eve of World War II, Keynes delivered the following chilling address on the BBC, talking about the “great experiment” of curing unemployment through war expenditure: J. M. Keynes, When the Day of Peace Comes Two years later to the day, in a lecture delivered shortly […]
Remember the people involved
Remember the people involved When I was in University, I vividly remember one of my economics professors telling students to always remember the people involved when analyzing a policy change. I was reminded of this sage advice upon reading Matthew McCaffery’s Mises Daily article titled, “Who will pay for it?” is the wrong question to ask […]
We Need the Pain that Comes with More Saving
We Need the Pain that Comes with More Saving The endgame of monetary side manipulations is upon us. Since 2008, central banks have done what they thought was needed to bring the markets back from the pain they experienced during the crash. The problem, of course, is that these Keynesians and Monetarists placed the high […]
Economics in one cheque
Economics in one cheque On December 1, 2005, Bill 43 “Alberta Resource Rebate Statutes Amendment Act” received Royal Assent in the Alberta Legislature enabling a one-time rebate to be paid to nearly all Albertans residents in Alberta on September 1, 2005 who had filed a 2004 tax return. The refunds were a product of a […]
Former Bank of England Governor Says Eurozone Must Break Up
Former Bank of England Governor Says Eurozone Must Break Up From today’s Open Europe news summary: FORMER BANK OF ENGLAND GOVERNOR WARNS EUROZONE MUST BREAK UP IF SOME MEMBERS ARE EVER TO PROSPER AGAIN In his new book, former Governor of the Bank of England Lord Mervyn King warns, “Put bluntly, monetary union has created […]
