Clik here to view.
Competitive Currency Devaluation: The Feeding Frenzy
That the world is grossly overindebted is perhaps an obvious point. But by how much — and why — are less clear. Today total global debt stands at approximately $150 trillion, or 194% of global gross...
View ArticleClik here to view.
Competitive Currency Devaluation: The Feeding Frenzy
That the world is grossly overindebted is perhaps an obvious point. But by how much — and why — are less clear. Today total global debt stands at approximately $150 trillion, or 194% of global gross...
View ArticleClik here to view.
Global Trade Imbalances Matter
A continuation of the sovereign debt crises of countries with large and rising trade deficits is not necessarily a fait accompli, but mitigation of the impact of these trade imbalances requires more...
View ArticleClik here to view.
Rebalancing Global Trade: There is No Quick Fix
That global trade imbalances matter has been made abundantly clear by the ongoing global economic malaise. The likely path to more sustainable levels of trade deficits, however, remains far less clear....
View ArticleThe Swiss Franc: Markets 1, Central Banks 0
This week, when the Swiss National Bank broke the Swiss franc's cap to the euro, it demonstrated that the SNB had conceded central bank power to market power.
View ArticleVollgeld: What It Means for Fractional Reserve Banking in Switzerland
Backers of the Swiss Vollgeld suggest that if money is divorced from debt and if the government owns the banks' debt, then a run is impossible. Unfortunately, the real world is almost never so simple.
View Article
