March 1, 2009
This graph from a new report on the global scarcity of U.S. dollars helps drive home where that demand has come from. It compares banks by country in terms of their balance sheet currency reliance over time....
The new Bank of International Settlements quarterly review is out, and in a well-intentioned section on detecting incipient financial crises you can find this quote: Historically, unusually strong increases in credit and asset prices have tended to precede banking crises....
Controversial new column out from historian Niall Ferguson in The Australian. His point is that economists should give up their dusty copies of Keynes, and recognize that the discipline is a disaster. At the same time bank nationalization/restructuring must happen,...
A sneak peek at some links from my weekly Weekend Reading column at TheStreet: Niall Ferguson on the “great repression” and why mass mortgage modifications are required (Australian) Animal Foraging and Investors’ Portfolios: Why The Decision Similarity? (IIJ) The Canadian...
The Financial Crisis and the Systemic Failure of Academic Economics David Colander, Hans Föllmer, Armin Haas, Michael Goldbery, Katarina Juselius, Alan Kirman, and Thomas Lux [From the conclusion] ..."We believe that economics has been trapped in a sub-optimal equilibrium...
