Archive for the ‘Blog Posts’ Category

Reinhart Rogoff and Political Tribalism

Reinhart Rogoff and Political Tribalism

By The Banker | Blog Posts

I wrote a few days back about how Reinhart and Rogoff’s serious, academic, review of past and prospective debt restructurings seemed to provide policy support for financial repression – such as capital controls, fixed currency regimes, highly regulated banks, and hidden taxes on savings through forced public pension investments. This post highlights one of my [&hellip

Financial Repression = Less Crises

Financial Repression = Less Crises

By The Banker | Blog Posts

Please see earlier post on the Reinhart Rogoff IMF paper I wrote a few days back about how a serious, academic, review of past and prospective debt restructurings can be on the one hand useful, on the other hand not particularly predictive of market conditions, and on the third hand (I have three hands!?!) easily [&hellip

1930s Style Debt Defaults?

1930s Style Debt Defaults?

By The Banker | Blog Posts, Wall Street

A sometime gold-coin buyer and a frequent reader of Bankers Anonymous sent me a message a few days ago, linking to the CNBC headline “1930s-style debt defaults likely, says IMF,” and with the simple question: “Mike – True?” Harvard economists Carmen M. Reinhart and Kenneth S. Rogoff’s latest paper, commissioned by the IMF and published [&hellip

My New Years Resolution

My New Years Resolution

By The Banker | Blog Posts

The artist’s perspective on money I spent the morning of New Years Day with two artists talking about money.  They asked questions about the meaning of money, and I tried to supply the answers as best I could.[1] I waxed poetic about the importance of accumulating a small surplus every month, however tiny, which could [&hellip

It's a Wonderful Life, a Failed Banker Origin Story

It’s a Wonderful Life, a Failed Banker Origin Story

By The Banker | Blog Posts

First, my confession Before this week, I had never watched Frank Capra’s It’s a Wonderful Life. I know I should not admit this in a public place. I know this will land me on the Un-American watch-list with the data-miners at the NSA faster than shouting my support for Al Qaeda in Times Square. But [&hellip