- © Richard S. Grossman and Unsettled Account, 2010-12. Unauthorized use and/or duplication of this material without express and written permission from Richard S. Grossman is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Richard S. Grossman and Unsettled Account with appropriate and specific direction to the original content.
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Author Archives: Richard S. Grossman
Ben Bernanke is a much better economist than John Taylor
Writing in Thursday’s Wall Street Journal, John Taylor takes the Federal Reserve to task for its “interventionist” behavior. Taylor’s main complaint with the Fed’s conduct of monetary policy is that it is unstable and unpredictable (verging on the whimsical!). He … Continue reading
Posted in Financial Crisis, monetary policy
Tagged Alan Greenspan, Ben Bernanke, Federal Reserve, John Taylor, Paul Volcker
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Time to go negative!
Since the outbreak of the subprime meltdown, the Federal Reserve has shown itself ready, willing, and able to adopt unconventional monetary policies in order to reverse the downturn ushered in by the financial crisis. Recent Fed innovations have included quantitative … Continue reading
Enforce the regulations that we already have
Republicans and Democrats are arguing over how many regulations we should add—or remove—from the financial services industry. Before we think about altering the regulations, we should think about enforcing the ones we currently have. Ever since the sub-prime meltdown erupted … Continue reading
Doomed to repeat it?
The Financial Times reported this week on a study by the Chartered Financial Analyst Society of the UK that argues that “financial amnesia” among institutional investors–particularly a failure to heed the lessons of past bubbles–has contributed to the global financial … Continue reading
Unfortunately, in Greece statistics is a combat sport
The Financial Times reports that Andreas Georgiou, the head of the independent Greek statistical agency Elstat, is facing a criminal investigation for allegedly inflating the scale of the country’s fiscal crisis and “acting against the Greek national interest.” Georgiou, who … Continue reading
Where will the new capital come from?
Writing in Thursday’s Financial Times, Pimco chief executive and chief investment officer Mohamed El-Erian argues that Europe’s first order of business should be to recapitalize its banks. It is hard to argue with this prescription. With the finances of Greece, … Continue reading
Great minds think alike
Apparently, the Economist agrees with my emphasis on the rise of technocracy.
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Send in the technocrats!
Winston Churchill said that democracy is the worst form of government except all those other forms that have been tried. The financial crisis has tested Churchill’s assertion. In Greece, the austerity measures imposed on the country by the EU and … Continue reading