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Blain’s Morning Porridge – 23rd Jan 2020; Plague, Famine, Trump
Blain’s Morning Porridge – 23rd Jan 2020; Plague, Famine, Trump “Being a bully on the internet is a sure sign of insecurity and weakness…” I glanced up at the screens y’day and caught a headline flashing across the screen: “No more boom bust cycle” said the talking head on the screen. Really? Go ask former Premier Gordon […]
Bridgewater Co-CIO: “The Boom-Bust Cycle Is Over”
Bridgewater Co-CIO: “The Boom-Bust Cycle Is Over” Just in case anyone was worried that the smart money was quietly getting ready to stop dancing after Bridgewater’s Co-CIO Greg Jensen told the FT in an interview last week that it’s time to buy gold (which he sees rising to $2,000 because the Fed and other central banks would […]
Why Gold Standard is Not Conducive of Boom-Bust Cycles?
WHY GOLD STANDARD IS NOT CONDUCIVE OF BOOM-BUST CYCLES? According to some commentators on the gold standard, an increase in the supply of gold generates similar distortions that money out of “thin air” does. Let us start with a barter economy. John the miner produces ten ounces of gold. The reason why he mines gold […]
Central Banks Put a Safety Net Under Financial Markets
CENTRAL BANKS PUT A SAFETY NET UNDER FINANCIAL MARKETS Most early business cycle indicators suggest that the global economy is pretty much roaring ahead. Production and employment are rising. Firms keep investing and show decent profits. International trade is expanding. Credit is easy to obtain. Stock prices keep moving up to ever higher levels. All […]
China’s Rolling Boom-Bust Cycle
China’s Rolling Boom-Bust Cycle Sweet Authoritative Nothings There is a mysterious figure making regular appearances in China’s government mouthpiece “People’s Daily”, which simply goes by the name “authoritative person” (AP). This unnamed entity always tends to show up with bad news for assorted speculators, by suggesting that various scenarios associated with monetary and/ or fiscal […]
Austrians Get (Some) Mainstream Credibility
AUSTRIANS GET (SOME) MAINSTREAM CREDIBILITY Well, well: who would have believed it. First the Bank for International Settlements comes out with a paper that links credit booms to the boom-bust business cycle, then Britain’s Adam Smith Institute publishes a paper by Anthony Evans [Editor’s note: Anthony is a Founding Fellow of The Cobden Centre] that […]
How Could the Fed Protect Us from Economic Waves?
How Could the Fed Protect Us from Economic Waves? Making Waves Mainstream economists tell us that the Federal Reserve protects us from economic waves, indeed from the business cycle itself. In their view, people naturally tend to go overboard and cause wild swings in both directions. Thus, we need an economic central planner to alternatively stimulate us […]
China Momentum Indicator Plunges to “Hard Landing” Level
China Momentum Indicator Plunges to “Hard Landing” Level “But nothing is normal in China anymore.” Hard-landing gurus have been predicting an imminent end of the China bubble for years. A “hard landing” would be the optimistic scenario. The other scenario would be a crash-and-burn. But to their greatest frustration, there was no hard landing, or […]
