ALL BLOG POSTS
It has become highly fashionable to talk about "black swans" since the crisis began in 2008 and now even Scott Sumner talks about it in his recent post "Don't forget about those black swans". Ok, Scott is actually not obsessed with black swans, but his headline reminded me how much focus there is on "black swans" these days - especially among central bankers and regulators and to some extent also among market participants.
Yesterday, I did a (very short) post about Irish deflation and there is no doubt that the euro crisis continues. Depressingly there is no really appetite among ECB policy maker to fundamentally have a change of monetary policy to change the status quo and while there is a (misguided) debate going on about fiscal austerity in Europe there is still no real debate about the monetary policy set-up in Europe. On the other hand in the US we are having a real debate among academics, commentators and central bankers about US monetary policy. In the US fed economists like Robert Hetzel are allowed to publish book about how monetary policy mistakes cause the Great Recession. In Europe there is no debate. That is very unfortunate.
I have been busy, busy in Dublin today. No time (or energy) for a lot of blogging. But here is a picture of the Irish economy - the Irish price level is down 10% since the end of 2007.
Daniel Lin will be teaching Intermediate Micro - Robert Clower would have told him to be happy about it
See this Facebook update from Daniel Lin who teaches at American University:
The New York Times reports on the Zimbabwe's so-called "coin problem":
This morning I am flying to London so I think it is an excellent opportunity to celebrate the long Danish-British trade relationship.
See this new excellent interview with George Selgin. I think it is harder to find any bigger expert on Free Banking theory and Free Banking history than George. Great stuff - even though I do not agree with everything (yes, believe it of not - I do not agree with everything George is saying).