The roots of a classic financial crisis is in bad lending. What makes a bank-led crisis sufficient to send an economy into a coma?

January 2023

If QE isn’t money printing, then what is?

November 2022

From its inception, Quantitative Easing has attracted an outsized amount of attention. Is this because it has a destabilising effect, or is it just…

October 2022

Too fast, too hard and without caution – After throwing everything and the kitchen sink at deflation, Central Banks are trying to compensate with…

August 2022

The Fed’s traditional role has been as the “lender-of-last-resort”. Since the GFC, it has been moonlighting as the “borrower-of-first-resort”.

July 2022

A retreat of inflation is not sufficient to bring back negative correlation between equities and bonds, if history is any guide.

June 2022

Despite the appeal of the hypothesis that lower interest rates encourages the private sector to take on debt, the data doesn’t support it. So why are…

March 2022

Commodity cycles are the main determinant for long-term US Dollar trends, relegating the influence of the Fed to short-term wobbles only

February 2022

Tempting deflation by aggressively tightening policy before we know if inflation is embedded is irresponsible. The cost of deflation is greater than…
The PBOC will have indirect control over Fed policy as it refuses to follow global policy tightening

January 2022

Don't believe the Fed's redefinition of monetary tightening. It's designed to deceive and mislead

December 2021

We've drifted as a society, and anger for this on both sides of the aisle is misunderstood