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Economic Ignoramus Stephen Poloz to Replace Carney as Bank of Canada Governor
So far, we don’t know much about Mr Poloz on a philosophical level. Based on the little we do know, I think he is a bad choice. He has a PhD in economics, so he likely knows very little about...
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Mourn for the Lost Penny
Every Canadian hated pennies. Even homeless street beggars hated getting pennies. If someone dropped a penny, they wouldn’t even bother to pick it up. Every Canadian seems happy that the penny is gone....
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Poloz Prepared to “Nourish” Economy. Translation: He Will Inflate
Poloz thinks it will be necessary to “nourish” the economy. To a Keynesian central banker from the EDC, this means “buy assets” i.e. inflate. The boneheaded idea that this strengthens the economy is...
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When Will Interest Rates Rise?
Everyone wants to know: when will long-term interest rates rise? Are we so sure they aren’t rising now? Let’s consider a few recent events: Microsoft recently raised $2 billion selling bonds. Soon...
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Are Chinese Women Smarter Than Warren Buffett?
Warren Buffett is one of the world’s most successful investors. He is also a well-known critic of gold as an investment. He believes buying gold is “stupid.” Middle-aged Chinese women did not get...
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The European Central Bank Is Deflating
A lot of people talk on and on about how all the central banks are printing money. But, to the dismay of radical Keynesians, central banks are not always printing money all the time. The ECB has spent...
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Carney vs. the British Pound
UK citizens are running out of time before Mark Carney takes over their central bank. Carney got the Bank of England job because he was a friend of bank bailouts and has shown no reluctance when it...
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Chinese Demand for Gold Is the Real Deal, Long Term
You have to see these images from China. During the Dragon Boat Festival, ten thousand Chinese demonstrated the depth of their gold fever by lining up to buy that “stupid” investment. This is despite...
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Fed Discontinues “Excess Reserves” Chart
The St. Louis Federal Reserve Bank will no longer publish the chart showing excess reserves of commercial banks. I can say little about why this decision was made. I suspect the Fed wants to draw...
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Is the Taper a Big Lie?
(UPDATED! See below.) The much-talked-about taper could be nothing more than a big joke. Where is the statistical evidence of the taper? Let’s look at the last 10 years of the Federal Reserve’s balance...
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