Monthly Archives: September 2020

Oil offers further proof that, at the zero-rate bound, monetary policy is pushing on a string, unable to increase consumption. In reports released last week, both the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC) … Continue reading →

Yesterday the US Fed offered its next iteration of low policy rates for longer, and longer, and longer with a promise that it would not hike for (at least) another three years in its effort to manufacture price inflation above … Continue reading →

I recently read Thomas Picketty’s latest book Capital and Ideology which is fascinating, meticulous in research, and dense in historical detail.  His previous book Capital in the Twenty-First Century is now summarized in a well-made documentary available on Netflix and … Continue reading →