The Fed Is Bankrupt | AIER
Federal Reserve Chair Jerome Powell recently testified before Congress on the current state of the US economy. In addition to monetary policy, Powell was questioned about the Fed’s regulatory proposals regarding cryptocurrencies and climate-related financial risks. Barely mentioned, however, was the Fed’s balance sheet. The Fed has experienced significant operating losses over the last six […]
The Connection Between “Air” and ESG
Matt Damon as Sonny Vaccaro in AIR Some movies not only entertain and inspire but convey broader lessons. “Air” is one of them. The film is about Nike’s efforts in 1984 to secure Michael Jordan’s endorsement of its basketball shoes, which soon after became the iconic Air Jordans. But it also tells anyone who will […]
ECB policymakers are rethinking rate hikes after banking turmoil
A sign for the European Central Bank (ECB) outside the bank’s headquarters in Frankfurt, Germany, on Thursday, Feb. 2, 2023. Alex Kraus | Bloomberg | Getty Images European Central Bank policymakers are reconsidering the path of interest rate hikes in light of last month’s banking turmoil, but remain committed to reining in core inflation. Contagion […]
Taiwan, the ROC, and Super Bowl XXXII
Late in Super Bowl XXXII, the Green Bay Packers allowed Denver to score, rather than have the clock run down close to zero, at which time Denver would almost certainly kick a game winning field goal. The thought was that allowing Denver to score with 1:45 left would give Brett Favre a chance to lead […]
Market Talk – April 13, 2023
ASIA: Japan’s wholesale prices rose 7.2% in March from a year earlier, with the pace of increase slowing for the third straight month, data showed on Wednesday, offering some relief to households and firms hit by a steady rise in raw material costs. The gain in the corporate goods price index (CGPI), which measures […]
Condemning the Profit Motive – Econlib
I recently encountered a laundry list of objections to the profit motive. The following is the list with redundancies removed, edits for clarity, and my comments. Many of the complaints are based in ignorance of how markets work, ignorance of the perverse incentives created by government regulation, failure to consider problems with available alternatives, refusal […]
