The world’s central bankers have given companies the urge to merge. Merger and Acquisition (M&A) activity has already reached $2.2 trillion this year according to Thomson Reuters Deals Intelligence, up 70% from this time a year ago. The deals are
Precisely because Paul Krugman and I have had an unpleasant exchange of views on the subject, I realize there is a danger in me beating a dead horse, or appearing to be making excuses, whenever I return to the topic of
One of the interesting features of the U.S. economy since 2008 is that despite the tremendous increase in what’s called “the monetary base”—the quantity of dollars that the Federal Reserve directly controls—we haven’t seen a corresponding increase in consumer prices.
Dear Sirs: John Waggoner perpetrates a sleight-of-hand on his readers when he equates investing with gambling in regard to Paul Singer demanding repayment of his Argentine bonds. Investing is ruled by law, and Mr. Singer is demanding that the law be upheld.
First the Financial Times and now the Economist have jumped on the quantitative easing (QE) bandwagon and called for the European Central Bank to embark on a policy of buying assets in the open market at above market prices–with printed money, of course. What
On July 30 S&P declared Argentina’s government technically in default on $13 billion of its sovereign bonds that were restructured after the government’s previous default back in 2002. Inasmuch as several of the world’s major Keynesian bloggers never tire of pointing
Mainstream economists have long derided the Austrian School as a “cult”. Professor Walter Block recounts stories from Nobelists Gary Becker and James Buchanan off-handedly referring to the cultish Austrians. When pressed by Professor Block, Becker said, “By a cult I
From Edmund Burke’s Reflections on the Revolution in France. (Just substitute “dollar” for “assignats“. Nothing has changed.) “Assignats. Is a fleet to be fitted out? Assignats. If sixteen millions sterling of these assignats forced on the people leave the wants of the state
In his provocative cover story “Why Liberalism Means Empire” for The American Conservative, Daniel McCarthy makes a rather astounding claim: that liberalism, or rather laissez faire secular order, needs a state hegemon to be long-lasting. I call this argument astounding because
Famed Chicago economist John Cochrane has recently returned from a seminar at the National Bureau of Economic Research (NBER, the organization tasked with determining whether the economy is in a recession or not, and where Ludwig von Mises was employed
Reprinted from the Pembroke Observer Since the collapse of Lehman Brothers investment bank in 2008, central banks around the world have created trillions of additional dollars, yen, euros and renminbi. In the immediate aftermath of Lehman’s bankruptcy other banks, unsure