Category Archives: News/ Lessons

First the Financial Times and now the Economist have jumped on the quantitative easing (QE) bandwagon and called for the European Central Bank to embark on a policy of buying assets in the open market at above market prices–with printed … Continue reading →

A quote from one of the news summaries found on Open Europe today: “Russia also announced a ban on some fruit and vegetables imports from Poland, and is considering expanding the ban to the entire EU.” I doubt that Putin … Continue reading →

From Edmund Burke’s Reflections on the Revolution in France. (Just substitute “dollar” for “assignats“.  Nothing has changed.  Patrick Barron) “Assignats.  Is a fleet to be fitted out?  Assignats.  If sixteen millions sterling of these assignats forced on the people leave the wants of … Continue reading →

The following are six of the most prevalent economic myths that appear time and again in the mainstream media.  I will give a brief description of each and a brief description of the economic reality, as seen from an Austrian … Continue reading →

From today’s Open Europe news summary: In its quarterly report, the Greek Parliament’s State Budget Office has warned that Greece will require a third bailout package to avoid a default, and that despite capital injections, the problems of the country’s banks … Continue reading →

Re: Luxembourg tax regime under siege This recent article by Vanessa Houlder of the Financial Times, London, details the economic success that Luxembourg has enjoyed by keeping its business tax rates at a moderate level and the threat to that success … Continue reading →

Re: EU threatens Germany with fine for running too large a surplus Ambrose Evans-Pritchard of the Daily Telegraph reports that the International Monetary Fund is criticizing Germany for running too large a trade surplus with the other European Monetary Union … Continue reading →

Re: Eurozone needs quantitative easing Dear Sirs: All the so-called benefits that you expect the eurozone countries to derive from a European Central Bank program of quantitative easing are myths.  Myth number one: QE will spur an economy to greater production. … Continue reading →

Gold backed digital currency People often ask me how gold can be used as a currency, since it would be almost impossible to create a coin that would be small enough to conduct everyday transactions, such as buying a cup … Continue reading →

From today’s Open Europe news summary: French Economy Minister Arnaud Montebourg said yesterday, “[It is] inevitable that the ECB goes even further in its non-conventional monetary policies, by finally proceeding to the purchase of public debt securities if the euro … Continue reading →