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See you in the States in October

See you in the States in October

I sometime ago announced that I will be visiting the US during October.

Jim, it is not complicated - NGDP tells you NOT to hike

Jim, it is not complicated - NGDP tells you NOT to hike

This is what St. Louis Fed president James Bullard today told CNBC:

Yellen is transforming the US economy into her favourite textbook model

Yellen is transforming the US economy into her favourite textbook model

When you read the standard macroeconomic textbook you will be introduced to different macroeconomic models and the characteristics of these models are often described as keynesian and classical/monetarist. In the textbook version it is said that keynesians believe that prices and wages are rigid, while monetarist/classical economist believe wages and prices are fully flexible. This really is nonsense - monetarist economists do NOT argue that prices are fully flexible neither did pre-keynesian classical economists. As a result the textbook dictum between different schools is wrong.

A warning from the past: The politics of Trump and Corbyn - it is time for classical liberals to wake up

A warning from the past: The politics of Trump and Corbyn - it is time for classical liberals to wake up

When I see what is being said about the new Labour leader in UK Jeremy Corbyn I fear that we are underestimating the change in electoral preferences in Europe.

China: It just got worse - more bad news and more policy mistakes

China: It just got worse - more bad news and more policy mistakes

It is becoming increasingly clear that the Chinese authorities are mismanaging the economic and financial situation and the risk that the authorities will to cause something to blow increases day by day.

The 'dollar bloc' was never an optimal currency area and now it is falling apart

The 'dollar bloc' was never an optimal currency area and now it is falling apart

Global stock markets are in a 2008ish kind of crash today and I really don't have much time to write this, but I just want to share my take on it.

Icelandic monetary policy has become too easy - Sedlabanki is (rightly) trying to catch up

Icelandic monetary policy has become too easy - Sedlabanki is (rightly) trying to catch up

Yesterday the Icelandic central bank Sedlabanki hiked its key policy rate by 50bp to 5.50%. The hike was fully expected by the markets and is the second hike this year.

The Christensen Media Blitz on the euro, 'Open Borders', China and 'currency war'

The Christensen Media Blitz on the euro, 'Open Borders', China and 'currency war'

I have been in a bit of media blitz recently. Here is some of it:

Ronald Reagan comments on Donald Trump's immigration plan

Ronald Reagan comments on Donald Trump's immigration plan

I can't stand protectionism in any form. Therefore, I get terribly upset when I hear calls for closed borders - also when it comes to immigration. Therefore I am not impressed with this either:

Malaysia has a freely floating Renggit - and thank god for that!

Malaysia has a freely floating Renggit - and thank god for that!

The Chinese surprise devaluation yesterday and has put currencies across Asia further under pressure. This is only a natural and the most stupid thing local Asian central bankers could do would be to fight it. Rather as China moves closer to a freely floating exchange rate it should inspire other Asian countries to do the same thing and I am therefore happy to see that the Vietnamese central bank this morning has widened the fluctuation band for the Dong and in that sense moved a bit closer to a freely floating Dong. Even though the hand has been forced somewhat by the PBoC's devaluation yesterday it is nonetheless positive that we are seeing a move towards more freely floating exchange rates in Asia.

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