It’s popular among the conspiracy-minded and central bank-obsessed (frequently the two go together) to suggest that governments establish central banks to buy their debt. The very notion is self-discrediting.
Central Banks Neither Own Debt Nor ‘Print Money’ To Buy It Read More »
It’s crucial that the CFPB’s rule be revisited very quickly. Meant to protect borrowers, what it will really do is make it much less likely that would-be borrowers will have access to credit at all.
The CFPB Unwittingly Puts a Bull’s Eye On Credit Card Users Read More »
Capital One and Discover aren’t merging to dominate the present, rather they’re combining in an effort to discover an always opaque future.
Capital One/Discover Is Crucially About Discovering the Future Read More »
As always there are no price controls, there are just shortages. Place President Biden’s rhetorical attacks on “junk fees” in the price control category, along with the CFPB’s regulatory attacks. Nothing is free. Yet the CFPB wants to bring down the $32 charged for late payments on credit cards to $8. Someone will pay for this. Readers can guess who.
The Incredibly High Cost of Errant Capital Allocations Read More »
This will cause some heads to explode within the various free-market and interventionist religions, but market forces born of production decide which currencies circulate, not central banks or presidents. Which means Javier Milei is wise to not dollarize.
If Javier Milei Trusts the Markets, He Doesn’t Need to ‘Dollarize’ Read More »
When banks acquire capital expensively, they don’t just acquire cash. They put it to work, albeit in securities approved of by regulators. Highly liquid securities. Think government bonds, or more specifically U.S. Treasuries.
Bank Capital Requirements Are So Much More Expensive Than the Capital Read More »
We didn’t even have to get to 2024 for economists to start speculating on what the Fed might do to boost or harm the re-election chances of the incumbent president through rate cuts, or a lack of them.
The Federal Reserve Can’t ‘Boost’ President Biden, or Any President Read More »
No doubt prices for many goods are higher post-Covid lockdowns, but Cochrane has mistaken the culprit.
John Cochrane Should Give Producers a Hand, Not the Federal Reserve Read More »
The Fed is full of PhDs bereft of the simple knowledge required to gauge economic health. It’s held down by a near total lack of originality.
The Biggest Problem at the Federal Reserve Is a Lack of Original Thought Read More »
The bigger the crack-up the better, because the big errors signal enormous information-creation that will bring us closer to the kind of knowledge that represents enormous progress and wealth.
Would Sam Bankman-Fried Face Prison Time If FTX Had Been Worth $32 Million? Read More »
