Monthly Archives: April 2009

Is There Inflation Ahead?

In reaction to the financial and credit crisis that seized American and international financial markets last September, the Federal Reserve has pumped enormous quantities of credit into the market in an effort to unblock clogged credit flows. The Fed creates … Continue reading

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What are SDRs?

The very large increase in world trade (globalization) over the last four decades has enormously reduced poverty and raised living standards for very large numbers of people. Government policies in the U.S., China and elsewhere have produced large, unsustainable trade … Continue reading

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Living with Bias

One of the many factors that have contributed to America’s success is its ability to accommodate people with different religious beliefs and cultural practices. This has been an important factor in attracting the world’s best and brightest to our shores, … Continue reading

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Time for a New Global Currency?

Introduction[1]   The U.S. dollar is the world’s primary international reserve currency. Most international payments are made in dollars, many globally traded commodities (such as oil) are priced in dollars, and almost two thirds of the world’s official (government owned) … Continue reading

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Relaxing Bank Accounting Standards—A Big Mistake

“The board that sets U.S. accounting rules voted yesterday to let financial firms report higher values for some troubled assets, a controversial step likely to increase some banks’ reported earnings but also heighten suspicions that the companies are concealing problems.”[1] … Continue reading

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