The conventional wisdom of academic investment theorists is taking a terrible beating in the post-bubble era. Rightly so, in the case of the efficient market theory, which now gives rise to growing skepticism.The flawed wisdom of crowds Since Wang Shulian started a gypsum factory nine years ago, her brick home in the countryside of western …
Alan Greenspan dubbed as “a conundrum” the failure of bond yields to respond to his 2004-05 Federal Reserve monetary tightening. Yet there was no mystery then, nor is there now, in the reverse situation. No conundrum, merely market forces working against the efficacy of Fed chairman Ben Bernanke’s helicopter money. No conundrum, again The fund …
Source:Â IMF, Finance and Development
 via Pension & Investments “The 12 Federal Reserve banks provide the financial means to operate the Federal Reserve System. Each reserve bank is organized much like a private corporation so that it can provide the necessary revenue to cover operational expenses and implement the demands of the board. Member banks are privately owned banks …
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In an interview today with The Observer of London, Nobel Prize-winning economist Paul Krugman said: “I think the UK economy looks the best in Europe at the moment. I have no position on all of the crazy stuff. But I think the policies are intelligent. The fact of the matter is that Britain did manage …
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