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Financial MarketsU.S. EconomyMoney and Banking
Lehman was a prime example of mainstream consensus analysis of risk and economic opportunity. We "solved" it with more of the same.
Money and BanksMonetary TheoryMoney and BankingOther Schools of Thought
It's not really true that governments can always just print money to pay off their debts.
The FedGlobal EconomyBusiness Cycles
Emerging economies should not bet on the Fed to bail them out, but begin to solve their serious imbalances without expecting monetary miracles.
Global EconomyMoney and BanksMoney and Banking
The Turkish lira collapse should have surprised no one. Yet, in this bubble-justifying market, it did.
Global EconomyTaxes and Spending
European bureaucrats thinks tax rates should be similar across the zone. But they naturally want all tax rates to "harmonize" at high rates, like those in France.
The UK's economy is stronger than the EU and never collapsed as a result of the Brexit vote — as was predicted — but the UK is oddly acting like it needs the EU.
Booms and BustsLabor and WagesBusiness Cycles
Here are the fateful words that set the stage for years of high unemployment: “We believe in the principle of high wages.”
The challenge from now on for OPEC and for oil producers is not to seek artificial price inflation, but to improve efficiency.