Links 5/19/13: http://t.co/NwI2QC9m4q
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Finance & Markets Channel: Latest Posts
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Finance & Markets
Gold Prices Falling
Was their rise caused by “bad policies”? And why are they falling now? From the NYT: The assumption among gold bugs was that the flood of new money would cause inflation, making hard assets like gold more attractive. So far, though, there have been few signs of inflation taking root even as central banks in Japan [...]
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Great Leap Forward
KRUGMAN DOES MMT AGAIN: GOLDBUGS AND BITBUGS
In a very nice piece, Paul Krugman blasts the anti-social orientation of those who tout gold or bitcoins as an alternative to state money (see here). You see, Uncle Sam is hell-bent on generating hyperinflation through President Obama’s run-away deficits and Chairman Bernanke’s money-dumping helicopters. To protect yourself, you need to buy gold and bitcoins—like [...]
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Finance & Markets
Setting the Stage for the Bubble Phase?
Until recently I was expecting the bubble phase for gold to occur as we came out of the next 8 year cycle low in 2016. However with the panic sell off over the last two days and break of support at $1523, I’m now starting to think what we are seeing is the washout prior to [...]
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Finance & Markets
Another Golden Lesson For Asset Allocation and Rebalancing
Maybe it’s the sell recommendation from Goldman Sachs. Or perhaps the trigger is the general fear of a sharp slowdown in China’s economy that will take a toll on global GDP. Whatever the reason, the price of gold yesterday suffered it’s biggest drop in 30 years. For gold bugs who loaded up on the precious metal, it’s been a rough 24 [...]
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Finance & Markets
Obama: The Buckraking Starts Here
When I was in DC about a month ago, speaking at the Atlantic Economy conference, the keynote speaker was Paul Volcker. Tall Paul could not refrain from starting his remarks by commenting on how prosperous the capital looked and made it clear he regarded it as unseemly. And indeed, at least to someone breezing in [...]
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Finance & Markets
Until Subnational Debt Do Us Part
Decentralization in many countries has given subnational governments certain spending responsibilities, revenue-raising authority, and the capacity to incur debt. Furthermore, rapid urbanization in developing countries is requiring large-scale infrastructure financing to help absorb influxes of rural populations. Not surprisingly, the subnational debt market in some developing countries has been going through a notable transformation. Private [...]
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Finance & Markets
Balance-Sheet Repairs in European Banks
The recent IMF assessment of Europe’s financial sector found that much has been achieved to address the recent financial crisis in Europe, but vulnerabilities remain, and intensified efforts are needed across a wide front, one of which being bank balance sheet repair. This column looks at progress with bank restructuring in Europe. Much has been [...]
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Finance & Markets
Nine Trust-Based Problems With Bitcoin
Bitcoin seeks to be an electronic cash (currency) system that doesn’t rely on trust. Paradoxically, Bitcoin requires a trust-based ecosystem. As a brief summary: The Bitcoin system was developed as an electronic currency by Satoshi Nakamoto (apparently, a pseudonym). Bitcoins exist only in the online world (they have no physical form). Each Bitcoin is uniquely [...]
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Ed Dolan's Econ Blog
Slovenia Is Not The Next Cyprus, but That Doesn’t Mean It’s Not in Trouble
Leo Tolstoy wrote that all happy families are alike, but each unhappy family is unhappy in its own way. Much the same is true of economies. Maybe that was what EU Commission President Jose Barosso had in mind when he said recently that, “it is a completely different situation in Cyprus and in Slovenia.” Different, [...]
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Finance & Markets
Strauss on CNBC: Drug-Testing Post Was a Question of ‘Equity’
Steven Strauss sat down with CNBC’s Carl Quintanilla to delve into his provocative post on inequality between the treatment of welfare aid recipients and corporate aid recipients, suggesting that while he is not “for” drug testing, simple equality suggests that if the unemployed are being tested, then there is no reason not to test bank CEOs [...]
