Celebrating humanity's flourishing through the spread of capitalism and the rule of law
13 Mar 2024 Leave a comment
in applied price theory, economics of information, economics of regulation, financial economics, macroeconomics, monetary economics, politics - USA Tags: banking panics
One year ago in March 2023, Silicon Valley Bank melted down, quickly followed by similar meltdowns at Signature Bank and First Republic Bank. Measured by the nominal size of bank assets, these were three of the biggest four US bank failures in history. (The failure of Washington Mutual Bank in 2008 remains the largest.) Was…
One Year Since the Meltdown at Silicon Valley Bank: Commercial Real Estate and Ongoing Threats
07 Mar 2024 Leave a comment
in applied price theory, entrepreneurship, financial economics Tags: active investing
A superb video on the history and mathematics of options pricing from Veritasium.
The Black-Scholes-Merton Options Pricing Equation
03 Mar 2024 Leave a comment
in economics of information, economics of media and culture, entrepreneurship, financial economics, industrial organisation, politics - New Zealand, survivor principle Tags: media bias
Could anything have saved it? The real surprise is not that Newshub is going under but that it’s lasted this long. TV 3 started broadcasting in November 1989, almost 35 years ago. It was a different era. There was no Sky, no digital platforms and the new kid on the block was going head to head…
PETER WILLIAMS: RIP Newshub
28 Feb 2024 Leave a comment
in energy economics, entrepreneurship, environmental economics, financial economics, global warming Tags: active investing
For fund managers, it may violate their fiduciary responsibility (to maximize returns) to their shareholders. Apparently, the legal risk is too big for JP Morgan, State Street, and BlackRock: Asset managers have been walking a fine legal line. GOP Attorneys General in 2022 warned that they might be violating their fiduciary obligations and antitrust laws.…
Is ESG investing illegal?
25 Feb 2024 Leave a comment
in economics of crime, financial economics, law and economics, politics - USA, property rights Tags: 2024 presidential election, regressive left
Below is my column in the New York Post on the confiscatory fines imposed on former president Donald Trump and his family and corporation. Democrats are thrilled by the over the $450 million bill facing Trump and the possibility that he could be forced to sell off property just to seek an appeal. On ABC, […]
“Nothing Succeeds Like Excess”: New York’s Perverse Incentive in Pricing Trump Out of an Appeal
17 Feb 2024 Leave a comment
in energy economics, entrepreneurship, environmental economics, financial economics, global warming, politics - USA Tags: celebrity technologies, wind power
When the most heavily subsidised industry on earth can’t make it pay, you know the economics must really stink. Denmark’s Ørsted share price plummeted 25% late last year, and after slashing dividends to shareholders was forced to write $billions off the projected value of its US offshore projects, and its share price is still heading south. Exhibiting […]
Orsted’s Financial Collapse Spells Armageddon For US Offshore Wind Industry
13 Feb 2024 Leave a comment
in economic history, entrepreneurship, financial economics, industrial organisation, survivor principle Tags: creative destruction
22 Jan 2024 Leave a comment
in development economics, economic history, entrepreneurship, financial economics, growth disasters, growth miracles Tags: India
📸 Look at this post on Facebook
https://www.facebook.com/share/utqMWmwSv6CsNYNR/?mibextid=RXn8sy
27 Dec 2023 Leave a comment
in energy economics, environmental economics, financial economics, global warming
“I think the investor class has grown weary of the industry’s lack of profitability,” Blink Charging’s CEO Brendan Jones told the WSJ. EV charging companies once received lofty valuations from investors, Jones told the WSJ. The post Investors Are Turning on A Key Pillar of Biden’s Climate Agenda first appeared on Watts Up With That?.
Investors Are Turning on A Key Pillar of Biden’s Climate Agenda
21 Dec 2023 Leave a comment
in economic history, financial economics, great depression, history of economic thought, macroeconomics, monetary economics Tags: monetary policy
Robert Hetzel, a distinguished historian of monetary theory and of monetary institutions, deployed his expertise in both fields in his recent The Federal Reserve: A New History. Hetzel’s theoretical point departure is that the creation of the Federal Reserve System in 1913 effectively replaced the pre-World War I gold standard, in which the value […]
Central Banking and the Real-Bills Doctrine
17 Dec 2023 Leave a comment
in applied price theory, econometerics, economic history, entrepreneurship, financial economics, income redistribution, labour economics, politics - USA, poverty and inequality, Public Choice, public economics Tags: top 1%
A number of you have asked me what I think of their response. The first thing I noticed is that Auten and Splinter make several major criticisms of PSZ, and yet PSZ respond to only one of them. On the others they are mysteriously silent. The second thing I noticed is that PSZ have been […]
The Piketty-Saez-Zucman response to Auten and Splinter
14 Dec 2023 Leave a comment
in business cycles, economic growth, economic history, financial economics, great depression, history of economic thought, labour economics, macroeconomics, Milton Friedman, monetarism, monetary economics, unemployment Tags: monetary policy
In my previous post, I explained how the real-bills doctrine originally espoused by Adam Smith was later misunderstood and misapplied as a policy guide for central banking, not, as Smith understood it, as a guide for individual fractional-reserve banks. In his recent book on the history of the Federal Reserve, Robert Hetzel recounts how the […]
Hetzel Withholds Credit from Hawtrey for his Monetary Explanation of the Great Depression
08 Dec 2023 Leave a comment
in development economics, economic growth, economics of regulation, entrepreneurship, financial economics, growth disasters, macroeconomics, monetary economics Tags: Argentina
Milei’s November election win — on a pledge to rapidly overhaul Argentina’s dysfunctional economy — has triggered a burst of market exuberance. The local Merval stock index is up 28 per cent, while prices for Argentina’s closely watched sovereign bonds maturing in 2030 — some of the most liquid — have risen 22 per cent…
Argentina projection of the day
21 Nov 2023 2 Comments
in energy economics, environmental economics, financial economics, global warming
Investors are dumping solar energy shares in the same way users discard worn out panels after their brutally short and punishingly expensive lives. Any ‘industry’ that relies for its existence on other people’s money never lasts all that long. As Margaret Thatcher put it: “The problem with socialism is that you eventually run out of […]
Sun Sets On Subsidised Solar Scam: Solar Energy Share Prices Plummet 40% Overnight
15 Nov 2023 Leave a comment
in business cycles, economics of bureaucracy, financial economics, fiscal policy, inflation targeting, macroeconomics, monetary economics, Public Choice Tags: monetary policy
It was in mid-August that this particular bit of shameless Reserve Bank spin got going. From a post in late August It proved to be nonsense of course. Once we had access to the short little IMF piece, published at the back of the Fund’s Article IV review, it was clear that it all amounted […]
Shameless central bankers
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Res ipsa loquitur - The thing itself speaks
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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