Ryan Avent at The Economist links to a new research paper citing “a remarkable lecture by economist Gustav Cassel, who is quoted as saying that the world’s central banks should ‘come together and make an end of the depression simply by declaring that they intend, from this moment on, to supply the world so abundantly with means of payment that no further fall in prices will be possible.'”
Daily Archives: December 12, 2011
The Irrepressible Scott Sumner Does It Again
There’s a reason why Scott Sumner is one of the most influential economists in the post-crisis era. Actually, there are many reasons, as his must-read blog posts in recent years demonstrate. No one does a better job of explaining monetary policy, or pointing out how so many otherwise intelligent folks stumble on this crucial subject. He has a knack for explaining what should be clear but isn’t. He soon remedies any confusion, and he pulls it off by making his observations appear like revelations. But often he’s simply telling it like it is. But sometimes the clear, unvarnished truth can be revolutionary and more than slightly refreshing. Judge for yourself. Here’s his latest… yet another classic:
Technical Messages From The S&P 500
Does the stock market have a momentum problem? Yes, according to a number of market technicians, the folks who study the price charts for signs of things to come. The primary clue is the S&P 500’s recent history vis-à-vis its 200-day moving average, which is widely monitored by professional chart readers.