Tag Archives: monetary policy

Fiat Money and Business Cycles in Emerging Markets

Roger McKinney has a good piece over at Mises.org. It is useful because it describes very simply  how Fed policy with the world’s reserve currency can internationalise the business cycle. This is relevant in particular for our African and South African … Continue reading

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Demographic Delusion

Michael Power, a strategist at Investec Asset Management and long-time inflation dove has penned a piece in the Business Day online titled, Demographics determine bipolar inflationary trends.  Power has for years advocated for higher price inflation in South Africa, which … Continue reading

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The SA Reserve Bank’s record

I dusted off this piece I did a year ago on chrislbecker.com where I assessed the SARB’s performance in accordance with its own prescribed legislative mandate. The results are dismal to say the least.  I conclude, Not only has the Reserve Bank failed at each … Continue reading

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RE: On The Empirical Relevance of Austrian Business Cycle Theory

My friend Grant McDermott, to whom I wrote why I think the empirical relevance of ABCT by Lester/Wolff may produce “mixed” results replied to me in this post. This is a quick one to elaborate my points. Firstly Grant says … Continue reading

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RE: On The Empirical Relevance of Austrian Business Cycle Theory

Chris: Further to your useful post, it goes without saying that Austrian methodology is wholly different from the empirical analysis employed in the Lester/Wolff study. Three points on this: Firstly, it is interesting that despite all the data shortcomings, the authors found … Continue reading

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How to fix SA’s unemployment problem

I was on 567 Cape Talk radio this morning discussing South Africa’s unemployment problem and how to fix it.  I was interviewed by Kieno Kammies and joined in the discussion by Adcorp economist, Loane Sharpe. Here’s the podcast: My strategies for … Continue reading

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The problem when fractional banks still work

Since the financial crisis in 2008/09 the Federal Reserve has printed trillions of dollars and purchased assets with them, mostly US government bonds and mortgage-backed securities.  This has caused the assets on the Fed’s balance sheet to swell by around … Continue reading

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In the final analysis, at best, Thatcher failed

Margaret Thatcher died today.  She was 87.  Much has and will still be said about her time as PM and her legacy.  By the decrepit socialist standards of the day, Thatcher was (and mostly still is) considered a rabid free market capitalist. … Continue reading

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Bob Murphy on his inflation bet

Bob Murphy speaks up for himself about his lost CPI inflation bet in a comment on EPJ. Bob MurphyJanuary 1, 2013 at 8:43 AM Thanks Bob W. Just a few clarifications everybody: (A) I made the bet with David Henderson … Continue reading

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The Currency War for Dummies

My new article out on www.mises.co.za. The world is in a currency war. What is that? It’s when governments devalue their currencies in order to protect domestic industries against foreign competition. They believe that if their exchange rate is weaker … Continue reading

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