FTX and After: Regulation to Protect the Consumers?
FTX crashed. And now FTX’s rival Coinbase urges the government to better regulate the crypto market – in order to protect consumers. While that would be an honorable objective, it actually sounds a lot like ‘regulatory capture’. Different from what a superficial look would suggest, government regulation is enticing when you’re a solid, big company. […]
Five financial trends that 2022 killed
Financial markets’ nastiest surprises often come when something that is taken for granted is suddenly called into question—whether it’s rising tulip-bulb prices, functioning banks or a lockdown-free existence. Investors had a tough time in 2022. But given how many trends changed direction over the course of the year, the real surprise is that it was […]
2022 has been a year of brutal inflation
“Low inflation is indeed the problem of this era.” Thus said John Williams, president of the Federal Reserve Bank of New York, in late 2019, espousing the dominant view at the time. Fast forward to the present, and the problem is the exact opposite. Just about every country in the world has grappled with soaring […]
