Tag Archives: Triffin’s Paradox

Why the Fed Has to Raise Rates

A great many insightful commentators have made the case for why the Fed shouldn’t raise rates this month–or indeed, any other month. The basic idea is that the Fed blew it by waiting until the economy is weakening to raise … Continue reading

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The Federal Reserve, Interest Rates and Triffin’s Paradox

One result of the global dependence on central bank interventions is a unhealthy fixation on the slightest changes in those interventions, oops I meant policies. Since the slightest pull-back in central bank inflation of asset bubbles could spell doom for the … Continue reading

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The USD Bull in the Global China Shop

The long-term consequences of primary FX trends may be entirely unintended. Indulge me two “I told you so’s”: 1. That the U.S. dollar (USD) would rise a lot, confounding those busily digging the dollar’s grave 2. That the stronger dollar … Continue reading

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Why the Fed Must Taper

The Fed is being forced to end its bond-buying, cutting off the “free money for financiers” that has sustained a frothy stock market. While the Federal Reserve presents itself as free to do whatever it pleases whenever it pleases, the … Continue reading

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The Golden Era of the 1950s/60s Was an Anomaly, Not the Default Setting

The 1950s/60s were not “normal”–they were a one-off, extraordinary anomaly. If there is one thing that unites trade unionists, Keynesian Cargo Cultists, free-market fans and believers in American exceptionalism, it’s a misty-eyed nostalgia for the Golden Era of the 1950s … Continue reading

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