The Bear's Lair: Where's the link to inflation broken?

April 21, 2014

Monetary economists around 2009-10 were sure of one thing: the Fed's unprecedented creation of "narrow money" in the form of bank reserves would show up fairly quickly in a burst of inflation. Clearly, they were wrong.

 

The Bear's Lair: The promise of deflation

April 14, 2014

The American Enterprise Institute has now joined much of the Federal Reserve, Christine Lagarde of the IMF and the commentariat in warning of the imminence of deflation and the dire consequences that would ensue from even a mild decline in prices.

The Bear's Lair: The ultimate in foolish leverage

April 7, 2014

The Financial Times revealed this week that trades in index credit default swap (CDS) options had managed to avoid being listed on exchanges, with all the transparency requirements that brings, instead being allowed to continue trading on an over-the-counter basis.

The Bear's Lair: Ending Bernankeism will reduce inequality

March 31, 2014

Thomas Piketty's "Capital in the Twenty-First Century" has received rave reviews among the sort of commentators who are looking always for reasons to dump capitalism in the dustbin of history and resuscitate the Marxism they enjoyed in college (there are a LOT of these people).

The Bear's Lair: London won't get its primacy back

March 24, 2014

The Global Financial Center Index, released last week, showed that New York had supplanted London as the world's premier financial center, albeit by a tiny margin of two points out of 1,000.

The Bear's Lair: Abenomics is heading for a crack-up

March 17, 2014

Japan and Abe could learn from postwar Britain

The Bear's Lair: Tail risks are the ones to watch

March 10, 2014

In a piece "Dinosaur tail risks" published on Jan. 27, I discussed the various unlikely things that could go wrong with the world economy, mentioning well into the second page the faint possibility of a global war, since the global geopolitical system appeared as fragile as that governing before 1914.

The Bear's Lair: Gold is libertarian, cyberspace isn't

March 3, 2014

Assessing the sustainability of Bitcoin amid recent controversy.

The Bear's Lair: Back to a Downton Abbey economy!

February 24, 2014

Larry Summers, writing in the Financial Times last week, deplored the recent progression by the U.S. toward a "Downton Abbey economy" of extreme inequality.

The Bear's Lair: Evading the welfare trap

February 17, 2014

The Congressional Budget Office's latest budget projections, released last week, are that an estimated 2.5 million people will leave the job market as a result of Obamacare.

The Bear's Lair: Is rationality returning?

February 10, 2014

A return to rational concepts of valuation instead of the market’s current streak of get-rich-quick schemes might be around the corner.

The Bear's Lair: What happens when the robots take over?

February 3, 2014

The economic disruption will be considerable, but robots will likely be a boon to the economy by pushing technological frontiers and facilitating entrepreneurship.

The Bear's Lair: Dinosaur tail risks

January 27, 2014

The World Economic Forum last week issued its "Global Risks 2014" annual report, supposedly outlining the risks that could cause real trouble in the next decade.

The Bear's Lair: The coming deficit spiral

January 20, 2014

The colossal cost of much needed projects like U.S. infrastructure repair highlight the necessity to balance the budget.

The Bear's Lair: Is Graham and Dodd obsolete?

January 13, 2014

Three possible explanations for its recent underperformance

The Bear's Lair: U.S. inequality is curable

January 6, 2014

The Democrat playbook for 2014, we are told, intends to focus on U.S. inequality and to suggest that only redistributive taxation will solve or even alleviate it.

The Bear's Lair: Bank accounting and regulation worsen bubbles

December 30, 2013

Since 2008 there has been a huge tightening of bank regulation, attempting to prevent a repeat of the meltdown.

The Bear's Lair: Will the bubble make it to 2015?

December 23, 2013

The higher the market climbs, the harder it will fall.

The Bear's Lair: Mississippi Bitcoin

December 16, 2013

Bitcoin sure looks a lot like the French Mississippi Scheme of the early 1700s.

The Bear's Lair: The declining financial sector

December 9, 2013

As financial sector’s importance diminishes, the global economy stands to benefit.


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