Global Economy

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Europe's Bailouts Risk a Full-Blown Financial Crisis

Global EconomyMoney and Banks

Blog07/06/2020

Euro governments are planning to use the banking system for widespread bailouts in the wake of the COVID-19 shutdowns. This could bring about a new financial crisis.

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The COVID Crisis Supercharged the War on Cash

Global EconomyMonetary PolicyMoney and Banks

Blog06/30/2020

The COVID panic gave the world's regimes a new reason to claim that physical cash should be outlawed. But this is just one of many strategies now in play to end the relative privacy and freedom cash provides.

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Central Bankers Will Bring Us Economic Stagnation

Financial MarketsGlobal EconomyMoney and Banks

Blog06/22/2020

Central bank policies that rely on ultralow interest rates have been shown to bring economic stagnation. Unfortunately, central bankers don't seem to have any other ideas.

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Even if COVID-19 Goes Away, the Economy Isn't Going Back to "Normal"

The FedGlobal EconomyU.S. History

Blog06/18/2020

When the current panic and crisis began, we were already in the late stages of a long asset price bubble. The crisis has exposed the fragility of the current system and we won't be going back to where we were before.

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An L-Shaped Recovery Is Not an Anomaly, It Is the Norm.

Booms and BustsGlobal Economy

Blog05/30/2020

The massive bailout of indebted sectors that already had overcapacity and were in process of obsolescence may also drive the largest wave of malinvestment in decades. If the previous recoveries came with poor wage and capital expenditure growth and high debt, the next one will likely be even...

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The Japanese Love of Keynesian Economics Might Finally Be Coming to an End

Free MarketsGlobal EconomyTaxes and Spending

Blog05/20/2020

Decades of Keynesian policy have crippled the Japanese economy. Only a turn toward free markets offer a real way out.

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The ECB Has Been Hiding Risk. They Won't Be Able to Do It Much Longer.

Global EconomyTaxes and SpendingMoney and Banking

Blog05/18/2020

The ECB can disguise the risk for a while, but the reality of the mounting debt and tax burden ahead is probably going to end in a debt crisis.

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Three Reasons Why the Eurozone Recovery Will Be Poor

Big GovernmentGlobal EconomyTaxes and Spending

Blog05/11/2020

The eurozone needs to understand that if it decides to increase taxes to address the rising debt due to the COVID-19 response, its ability to recover will be irreparably damaged.

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How Governments Broke the Oil Market

Corporate WelfareCronyism and CorporatismGlobal Economy

Blog05/05/2020

The oil industry became one of the main areas of malinvestment in the years of massive liquidity and low yields. This perpetuated excess capacity and kept inefficient companies unnecessarily alive.

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