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Note: Europe is where the real crisis is now – hence why this is the focus of the post, not the US. While Europe tries to figure out how it can use the ECB as a lender of last resort, the current credit issues are likely to have some impact on the New Zealand economy. […]
Following a major crisis, such as the one we’ve just experienced, it is easy to get into a situation where the goal of policy is to “avoid another crisis”. However, this is not a trap that our fine readers fall into – so we don’t need to worry about it here 😉 . This isn’t […]
Well well well, the Fed has decided to actually set its cash rate target at a range of 0-25bps. Note: The focus of the Committee’s policy going forward will be to support the functioning of financial markets and stimulate the economy through open market operations and other measures that sustain the size of the Federal […]
At work we are writing occasional articles for the fine people over at Rates Blog at the moment. I’ve decided to focus on an issue that will get people irritated – an explanation of the GFC where I largely defend economists (although admiting that the mainstream missed the development of the shadow banking sector). I’ve […]
In a recent column Bernard Hickey suggested the following: Taxpayers still face the risk of seeing bank losses socialised in future while today’s profits are privatised. A more honest solution would be for the Government and the Reserve Bank to openly state that a bailout would not occur. Term depositers would demand a higher return […]
As a general rule of thumb, whenever someone offers you something for nothing they aren’t telling you the full story – and that is exactly what we have with the Greens stating the Reserve Bank should start rebuilding Christchurch themselves by printing money. Now, in order to come to this conclusion a bunch of points […]