The Business Spectator
The Business Spectator has finally launched and promises to provide a welcome alternative to the unreadable Australian Financial Review:
Now you’ll never have to wait (or pay) for the news (or analysis) that counts. Business Spectator has filled the gap, providing Australians with real-time business news and commentary 24 hours a day, seven days a week.
The Business Spectator also includes a moderated, blog-style section called The Conversation:
The Conversation will combine the best elements of a letters-to-the-editor page, a blog, an online forum and a roundtable discussion. We want to create a place where Australia’s business community can exchange views, react to the news or set the agenda.
posted on 30 October 2007 by skirchner
in Culture & Society, Economics, Financial Markets
(5) Comments | Permalink | Main
|
Comments
It looked promising until I read this nonsense:
For the past five years America has once again been printing money
He must be referring to the sustained post-Eisenhower-era low growth in the <A >”>monetary base</A>.
No, M1 <A >&cg2=Refresh+Graph”>won’t help</A> his case either. MZM and M2 are within historical norms also.
Any ideas? The only plausible explanation (apart from concluding that Kohler is of marginal use) is that he’s looking at M3, the last resort of monetary cranks.
Posted by benson on 10/30 at 07:34 PM
Yes, well, he is technically incorrect, unless he has something else in mind when he says “printing money.”
Posted by skirchner on 10/30 at 09:30 PM
You’re being awfully kind; the words “printing money” don’t leave much wiggle room. His premise is clear and it is clearly wrong.
Posted by benson on 11/01 at 01:57 AM
I think he gets this from Marc Faber, who is a complete crank, but argues the same thing. Alan keeps putting Faber on his TV show for some reason.
Posted by skirchner on 11/01 at 09:02 AM
Immitating Marc Faber’s voice is one of my favourite passtimes… Presumably, this expression refers to monetary policy that is looser than what the speaker believes it should be. Faber has been predicting rising gold and equity prices (due to ‘money printing’) and is not wrong so far on those fronts if not in scale than at least in direction.
Posted by .(JavaScript must be enabled to view this email address) on 11/01 at 01:50 PM