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There is no bubble in the US stock market

There is no bubble in the US stock market

Before you start reading this post note that I am not an equity market analyst and this is not investment advice. Rather it is an attempt to discuss the impact of monetary easing on the US stock market and to what extent the Fed's actions have created a stock market bubble.

The (Divisia) money trail - a very bullish UK story

The (Divisia) money trail - a very bullish UK story

Recently, the data for the UK economy has been very strong, and it is very clear that the UK economy is in recovery. So what is the reason? Well, you guessed it - monetary policy.

There is a pragmatic (but not a libertarian) case for a "Basic Income Guarantee"

There is a pragmatic (but not a libertarian) case for a "Basic Income Guarantee"

When I first read Milton Friedman's Free to Choose when I was in my teens two things particularly impressed me. First of course Friedman's monetarist ideas and second his strategies for moving from a Welfare State to a classical liberal society.

This is why we love Scott Sumner
The end of Prohibition and two great monetary thinkers

The end of Prohibition and two great monetary thinkers

Today it is 80 years ago that US alcohol prohibition was ended. Interestingly enough two of my favorite monetary thinkers of the time - Irving Fisher and Clark Warburton - had strong views on prohibition.

HAWKISH Market Monetarists

HAWKISH Market Monetarists

Over the past five years Market Monetarists have gotten a reputation for always being dovish in terms of monetary policy. The Market Monetarists have day-in and day-out been pushing for monetary easing in the US, the UK and the euro zone. So our reputation is correct in the sense that we – the Market Monetarists – in general have favoured a more dovish monetary stance both in the US and in Europe than has been implemented by central banks.

I just ordered "Fragile by Design"

I just ordered "Fragile by Design"

I must admit that I am a bit of a "serial shopper" when it comes to buying books on Amazon. Today I (pre) ordered a book I have been waiting for some time -  “Fragile by Design: Banking Crises, Scarce Credit,and Political Bargains”  by Charles Calomiris and  Stephen Haber. I have written about the book before:

Kuroda's masterful forward guidance

Kuroda's masterful forward guidance

This is from cnbc.com:

Rwanda - The greatest reform story in the world?
East African Monetary Union remains a very bad idea (I have a better idea)

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