All posts for the day April 29th, 2013
Euro crisis on a napkin
Posted by Lars Christensen on April 29, 2013
https://marketmonetarist.com/2013/04/29/euro-crisis-on-a-napkin/
Greece in the news – 81 years ago…
This is from the “The Brisbane Courier” April 18 1932
Suspension by Greece
GENEVA, April 15
M. Venizelos, the Prime Minister of Greece, told the League of Nations today that Greece would be unable to balance her budget without suspending her debt payments abroad. He hoped the necessity for such suspension would be only temporary.
LONDON, April 16
The Greek Legation announces that in accordance with M Venizelos’s explanation the bond holders are to be requested to consent to the suspension of payments on account of loans and sinking fund for five years and to the non-transfer of the payment coupons of these loans, which are due on May 1 until the Powers have granted Greece assistance in accordance with the recommendations of the League of Nations’ Finance Committee
Two weeks later Greece defaulted and gave up the gold standard…
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Posted by Lars Christensen on April 29, 2013
https://marketmonetarist.com/2013/04/29/greece-in-the-news-81-years-ago/
The Market Monetarist- Re-visited: Firefighter Arsonists – the myth of the central bankers as ‘good’ crisis managers
- US monetary policy has become too TIGHT – the Fed risks significantly UNDERSHOOTING it’s 2% inflation target
- ChatGPT, Python, FRED and some NGDP gaps
- Re-visiting R*: Close to the end of the hiking cycle for the Fed
- US inflation set to fall sharply in the coming quarters
- Recession or not? Answering a question the Fed should not care about
- Milton Friedman commented on Powell’s Fed in 1978
- Carl Bildt is puzzled – he should read an economics textbook
- US domestic spending – a closer look at the 2021-22 data
- A simple model for inflation that Jerome Powell should understand
The Market Monetarist 