By: kliuless
oh and fwiw, GFC Finance as War Finance - "populist targeting of the Fed, both from the right and from the left, is nothing new. Big Finance and Big Government are perennial bogeymen in American...
View ArticleBy: kliuless
btw, if you do want to know more... -The systemic risk of the repo system -The Sizable Role of Rehypothecation in the Shadow Banking System -Follow the money -Slapped in the Face by the Invisible Hand:...
View ArticleBy: kliuless
With the latest round of quantitative easing, there is literally nowhere else to go with devaluation of the trust backing the US Dollar except for a complete reevaluation of the true tangible value...
View ArticleBy: sfenders
Yeah, I am most certainly in the category of people who really shouldn't need to know anything about "repo haircuts" and so on, and indeed I don't know much. Happy to stay that way, mostly. But I am...
View ArticleBy: storybored
A very lucid discussion of the topic. One of the best i've read. Thx for this kliuless.
View ArticleBy: AndrewKemendo
The situation that we're in now, seriously, is one where we are back in about 1860: We've just had a big crisis, and we're trying to figure out what to do. We can only hope that it doesn't take 77...
View ArticleBy: parmanparman
You mean everyday life in Northern Ireland? http://en.wikipedia.org/wiki/Banknotes_of_Northern_Ireland
View ArticleBy: kliuless
also while gorton takes a crack at modern economics -- "if you take a standard macro model, a dynamic stochastic general equilibrium model, this is a neoclassical growth model that has no technology...
View ArticleBy: kliuless
um, i guess i should add that altho gorton's analysis is essential to understanding the global financial crisis (imo) and what's still wrong with the banking system -- a dearth of panic-defying 'safe'...
View ArticleWhat's the problem?
Interview with Gary Gorton (pdf) - Fascinating look at private institutional bank money creation (really) and subsequent run on the shadow banking system that hearkens back to the late-19th century...
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