ALL BLOG POSTS
Justin Ivring did it! With some help from his body Kenneth D’Amica he has set up a new website efficientforecast.com, which shows a real-time forecast for next year's expected US NGDP growth. The forecast is based on financial market data. I think it is tremendously promising and look very much forward to start to follow the data on the website.
Indian superstar economists, Egyptian (not so liberal!) dictators, the Great Deceleration and Taliban banking regulation - Some more unfocused musings
While the vacation is over for the Christensen family I have decided to continue with my unfocused musings. I am not sure how much I will do of this kind of thing in the future, but it means that I will write a bit more about other things than just monetary issues. My blog will still primarily be about money, but my readers seem to be happy that I venture into other areas as well from time to time. So that is what I will do.
A couple of days ago I wrote about Steve Hanke's new Troubled Currencies project. The project presently covers Argentina, Iran, North Korea, Syria andVenezuela. However, I think Steve now has to expand the list with the Sudanese pound.
This morning we got yet another disappointing number for the Chinese economy as the Purchasing Manager Index (PMI) dropped to 47.7 - the lowest level in 11 month. I have little doubt that the continued contraction in the Chinese manufacturing sector is due to the People's Bank of China's continued tightening of monetary conditions.
This is Scott Sumner ("A New View of The Great Recession"):
The big story of the week in the US has undoubtedly been the bankruptcy of the city of Detroit. I should stress that I have next to no insight into Detroit's fiscal situation. However, the bankruptcy is nonetheless a reminder of the risks moral hazard.
Only a couple of days ago I was complaining that the Turkish (and the Polish) central bank(s) have been intervening in the currency markets. My complains of the Turkish central bank's fear-of-floating and what seemed to be politically motivated monetary operations were then followed by the Brazilian central bank that hiked interest rates - officially to curb inflationary pressures, but what to me very much looked like an effort to prop up the Brazilian real.