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America: are times a-changing?

A HUGE PACKAGE and massive growth in money supply, along with near-zero interest rates, might do the trick. And it may raise inflation indeed. Although inflation is far from being a concern globally, it is potentially important for the following two reasons: First, monetary history tells us relaxing price stability targets and/or constraints results in...


2021 – The sign of the four

I HAVE TRIED to summarize four themes that might characterize 2021. The first is Trump’s legacy, or lack thereof. The second is Biden’s burden and what has to change in world trade and international politics. Third is the onset of COVID-19, both as a health issue and an economic problem as sovereign debt rises throughout....