Global Economy

Because of Iran's great oil wealth, it has been able, thus far, to stave off a hyperinflationary blow-off.

Austro-libertarians should also be wary of the collectivism inherent in Schiff's (and other anti-trade deficit) articles. Unless you are a shareholder of Alcoa, what do you care who owns it? Why does it matter if those "future profits" are earned by Australians instead of Americans?

To conclude then, as long as the pool of real funding available to Americans is still growing, and as long as the growth momentum of liquidity is heading up, US financial markets will remain well supported regardless of the yen carry trade.

The Marshall Plan didn’t help get Europe back on its feet: free markets did. The Plan was another failed giveaway program. The Plan’s disastrous legacy was the wrongheaded approach it inspired in foreign aid programs for the rest of the century.

His political opinions had always been unpalatable to his colleagues. Even before he encountered Hayek and the Austrians, he had the reputation of an extreme libertarian (which is not exceedingly difficult to obtain in France, the only major country in which academic economists tend to be more statist than the rest of the population).

Historically, you know, we have a couple of grievances with the Japanese.

Bloomberg quotes me here.

An Asia Times piece by Zhou Jiangong earlier this week describes a complica

I am in Bhopal, visiting India after almost three years.

The discrepancy between the relative position of the US economy in the world on the one hand and the relative position of the United States as to its military presence and the role of the US dollar on the other hand is moving towards a cracking point.