Global Markets in Review: Investors Favor Safe Havens [View article]
If recent history has taught us one thing, it's there is no such thing as safe havens in investments. The more investors pile into gold or T-bills, the more bubbly they become.
The Fallacy of Floating Exchange Rates [View article]
The point is that we cannot have a hybrid system in the world economy where one part has a currency peg and another part has a floating rate. So, either the whole world agrees on some sort of ERM (Exchange Rate Mechanism) as they used to have in Europe or there is complete floating exchange rate. By having both, we won't have the self-correcting mechanism that floating exchange rate is supposed to provide.
Why Hasn't the Bank of Japan Intervened to Weaken the Yen? [View article]
Japan's deflation is related to its protectionism. Had the country's internal market been more open to worldwide competition, it would not have to cope with its deflationary problem for so many years, if not decades.
Global Markets in Review: Investors Favor Safe Havens [View article]
The Fallacy of Floating Exchange Rates [View article]
Why Hasn't the Bank of Japan Intervened to Weaken the Yen? [View article]
A Depression and Recovery in Internet Time [View article]