Monthly Archives: August 2011

Krugman on “Republican Science”: Can we please make a trade barrier against that?

This is an endorsement. Paul Krugman’s recent Op-Ed in the New York Times describes in horrifying detail how some parts of America, and potential Republican Presidential candidates are turning their back against science. The piece, Republicans Against Science, is really … Continue reading

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ECB public debt purchases by numbers

I wrote last week about the ECB’s renewed purchases of public Euro debt (in particular Spanish and Italian). Now the actual numbers are out, and the confirm what market participants signaled: The ECB was not in for a small operation. … Continue reading

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Posted in Economics, Monetary policy | Tagged , , | 1 Comment

Commitment in action: Federal Reserve’s interest-rate “path”

It is a big shame that today’s FOMC meeting is one of those not to be followed by a press conference and a Q&A with Ben Bernanke. The policy decision is one of the more spectacular in recent times. Not … Continue reading

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Posted in Economics, Macroeconomics, Monetary policy | Tagged , , , , , , , | 5 Comments

ECB buys public debt again: Otmar Issing voices strong critique

In a rare Sunday press release (August 7) , the President of the ECB, Jean-Claude Trichet (on behalf of the Governing Council), hailed the fiscal and structural measures of Spain and Italy and their commitments—along with other member countries—to strictly … Continue reading

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Posted in Economics, Economists, Monetary policy | Tagged , , , , , , , , , | 2 Comments

US of AA+

Rarely has a rating agency’s rating of a single country been met with such anticipation and followed by so much commentary. On August 5, Standard & Poor’s downgraded US long-term sovereign debt from the maximum of “AAA” to “AA+” adding … Continue reading

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Posted in Economics, Macroeconomics | Tagged , , , , , | Leave a comment