Category Archives: News/ Lessons

Re: Now you can sue over flight delays in Europe This is just another governmental intervention that fails to consider the unintended consequences of fining airlines for flight delays.  Now there will be an additional incentive to fly aircraft that … Continue reading →

My comment on this Open Europe blog: Patrick Barron said… The French charge the British with the crime of desiring a larger free market  but one without additional rules and obligations. If this is the charge, then  there truly is … Continue reading →

Re: Fed Risks Losses from Bonds Dear Ms. Mcgrane and Mr. Hilsenrath, With all due respect, you really don’t understand that the current so-called Fed profit from bonds is just funny money anyway.   The Fed buys a government bond and … Continue reading →

Dear Sirs: Your article on the rise of Representative Eric Cantor states that he embodies the Republican Party’s proposed “softer track” to gain electoral support.  This raises the question of why it appears that a party cannot succeed with the … Continue reading →

Re: Bill Gates on the Importance of Good Measurement Dear Sirs: The most important measurement device for all members of society is that provided by its money.  Money is involved in at least one half of every financial transaction; sometime … Continue reading →

Re: Bundesbank Head Cautions Japan Bundesbank President Jens Weidmann’s criticism of Japanese politicians’ meddling in central bank affairs can be seen as a veiled criticism of ECB policy.  Weidmann warns against exchange rate wars, whereby central bankers worldwide engage in … Continue reading →

Re: Goldman Bonuses Won’t Be Timed to Ease a Tax Dear Sirs: So Bank of England’s Mervyn King finds it “a bit depressing that people who earn so much seem to think that it’s even more exciting to adjust the … Continue reading →

Re: China Again Is Growing, More Slowly Than in Past Dear Sirs: Your recent report that China’s economy is growing, but more slowly than in the past, contained this shocking statement: “China is awash in cash, since the government has … Continue reading →

Re: Clouds Seen in Regulators’ Crystal Ball for Banks Dear Sirs: Modeling of bank credit risk based upon empirical analysis of past events is an inappropriate tool for predicting future bank crises.  Austrian business cycle theory, which requires no such … Continue reading →

Re: Button-Down Central Bank Bets It All Dear Sirs: Your excellent report of the unprecedented action by the Swiss National Bank to drive its currency lower is an example of the trap in which all the world’s central banks have … Continue reading →