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Bob McTeer  

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  • Bank Reserves: A Hot Potato [View article]
    To NeedMoreCoffee: both.

    To thannagan: I agree.
    Bob McTeer
    May 24, 2013. 09:05 AM | 1 Like Like |Link to Comment
  • Money Isn't 'Easy': 9 Points [View article]
    Good piece, Scott.
    Bob
    May 20, 2013. 09:17 AM | 1 Like Like |Link to Comment
  • The Fed Has Not Been Printing Boatloads Of Money [View article]
    I see that I made no headway in my principal argument. $85 billion a month is a lot, but it hasn't lead to an increase in the money supply of $85 billion a month. Excess reserves in the banking system has blocked most of the transition from newly created bank reserves to newly created money. Money may be money, but bank reserves are not money. Bob
    Mar 22, 2013. 03:43 PM | 1 Like Like |Link to Comment
  • The Fed Has Not Been Printing Boatloads Of Money [View article]
    My rule for money growth has always been an amount equal to the growth potential of the real economy, which is fairly large when you have 7.7 percent unemployment. The desired money growth, of course, must take velocity changes into account. For the past couple of years we've had about 7.5% money growth partially offset by a 3.5% decline in velocity, yielding a 4.0 percent nominal GDP growth, split evenly betweein 2% real growth and 2% inflation. That's a bit on the low side.
    Mar 22, 2013. 03:39 PM | 1 Like Like |Link to Comment
  • The Fed Has Not Been Printing Boatloads Of Money [View article]
    Thanks. I was thinking primarily of James Grant when I wrote that. His interview on "Closing Bell" is what prompted my piece. His intellect is second to none. He just starts out with a false premise.

    Bob
    Mar 22, 2013. 03:35 PM | Likes Like |Link to Comment
  • The Fed Has Not Been Printing Boatloads Of Money [View article]
    Even with the large jump last month, both the CPI and the Core CPI were up 2 percent over the past 12 months.
    Bob
    Mar 22, 2013. 03:33 PM | Likes Like |Link to Comment
  • The Fed Has Not Been Printing Boatloads Of Money [View article]
    After two decades of deflation, I don't think the Japanese should worry too much about hyper inflation. They have tried the "too little, too late" policy all along. Too bad the central bank didn't get more agressive before government interference forced their hand.

    Bob
    Mar 22, 2013. 03:29 PM | 1 Like Like |Link to Comment
  • 'When Money Dies': Moderation The Key To Money Printing [View article]
    I'm not sure what premise you are talking about. While I agree with much of what you said after that, I don't really see its connection to what I wrote. Have you noticed the similarity between your second sentence and the opening sentence of Kramer below?
    Sep 13, 2012. 09:58 AM | 1 Like Like |Link to Comment
  • 'When Money Dies': Moderation The Key To Money Printing [View article]
    Regarding "Banks' appitite for holding excess reserves" the raconteur is correct that they were pumpted into the banking system in QE1 for the reasons he cited. My point is simply that the banks held onto most of those reserves plus more from QE2 (their "appetite") rather than converting them into required reserves through agressive lending and investment. As in the great depression, "excess" reserves may have been excess by regulation but not necessarily excess in the minds of the bankers given all they were (and still are) going through.
    Bob McTeer
    Sep 1, 2012. 12:34 PM | 2 Likes Like |Link to Comment
  • More Causal Confusion: The FOMC's Decision and Market Reaction [View article]
    Excellent article!
    Sep 25, 2011. 09:16 AM | 2 Likes Like |Link to Comment
  • Yen Confusion: A Teaching Moment [View article]
    Why would Japanese QE cause a flight into Yen if U.S. QE causes a flight out of the dollar.
    Bob
    Mar 19, 2011. 07:35 PM | Likes Like |Link to Comment
  • Yen Confusion: A Teaching Moment [View article]
    Probably not, but the sharp move in the Yen so soon doesn't seem to jibe with such longer run considerations.
    Bob
    Mar 19, 2011. 07:33 PM | Likes Like |Link to Comment
  • Yen Confusion: A Teaching Moment [View article]
    I'm sure you speak for many. I do the best I can.
    Bob
    Mar 19, 2011. 07:31 PM | Likes Like |Link to Comment
  • Yen Confusion: A Teaching Moment [View article]
    Well, those were in place well before the abrupt run-up in the Yen.
    Bob
    Mar 19, 2011. 07:31 PM | Likes Like |Link to Comment
  • Yen Confusion: A Teaching Moment [View article]
    To Lee:

    Good idea, but I already have one and had to get a small car to fit in my two-car garage. Let's all go out and buy larger garages.

    Bob
    Mar 19, 2011. 07:29 PM | Likes Like |Link to Comment
COMMENTS STATS
26 Comments
28 Likes