Category Archives: Inflation

BOJ, Central banks, Economics, Equities, Inflation, Japan, Macro

Turning Japanese

Posted on by Sean Corrigan

A noted [monetary extremist] resident at GMU’s Mercatus Center fretted on March 20th that Japan’s efforts during 2001-06 to have the central bank finance deficits ‘didn’t work’ – i.e., they failed to ignite meaningful levels of wealth-sapping inflation. The reason? As our sage tells us, was that there was ‘no commitment… to a permanent expansion of the monetary base’ as expounded in the ratiocinations of that dark genius of modern central bank theorising, Michael Woodford. We replied:-

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Austrian Theory, Central banks, Economics, Inflation, Intervention, Macro

What IS a ‘Market’?

Posted on by Sean Corrigan

In response to an FT article of January 23rd entitled, “The new kings of the bond market”, which suggested that banks had ceded their command over fixed income to exchange-traded funds and active portfolio traders, we responded with a riff on the sorry consequences of recent financial developments: a bromide which turned out to be singularly well-timed in view of the extraordinary upheavals suffered just a few, short weeks later:-

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Austrian Theory, Banking, Credit, Deficit, Fiscal policy, Inflation, Macro, MMT, Money

MMT: The Court Astrologer’s Dream

Posted on by Sean Corrigan

MMT has recently enjoyed a sudden resurgence in popularity. but, like so many other systems which claim to reveal previously undiscovered truths, it turns out to be nothing more than a retread of a number of age-old fallacies, only appealing because it seems to promise the Provider State unlimited power to interfere in our lives. We discuss its failings here.

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Banking, Budget, China, Commodities, Deficit, ECB, Emerging Markets, Energy, Equities, Federal Reserve, Fiscal policy, Fixed Income, Forex, Gold, Inflation, Japan, Macro, Money, Oil, Trade, USA, Yield Curve

Trade Wars: Blue-on-Blue

Posted on by Sean Corrigan
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Austrian Theory, Central banks, China, Commodities, Credit, Cycles, Donald Trump, ECB, Emerging Markets, Energy, Equities, Europe, Fixed Income, Forex, Gold, Inflation, Macro, Money, Oil, UK, USA, Volatility, Yield Curve

The Turn of the Tide

Posted on by Sean Corrigan
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Austrian Theory, Banking, Central banks, China, Commodities, Cycles, Draghi, ECB, Europe, Federal Reserve, Fixed Income, Inflation, Japan, Macro, Money, Oil, Trade, USA, Yield Curve

How the VIX Seller Lost his Shirt (updated)

Posted on by Sean Corrigan
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