Mar 18, 2016 | US Economy
You can take a horse to water, but you can’t make it drink. This is generally the mistake made by many when it comes to credit. If you expand the availability of credit, and make it more attractive, then more people will want credit. But this is rarely the case. ...
Dec 5, 2014 | Monetary Policy, UK
Easy monetary policy in the UK is looking ever more inappropriate. Divisia money is a weighted money-supply measure. Higher forms of money, eg notes and coins have greater weights than less liquid forms of money, such as building society deposits. Thus Divisia...
May 21, 2013 | Featured, Global Economy, US Economy
The developed world remains mired in the debt crisis that roiled the global economy in 2008. Growth is low, and deleveraging is an ongoing process. However, the response by policymakers has been strong, and free money is leading to bubbles, the misallocation of...