The archive is catalogued by 'Politics', 'Economics', 'Mockery', 'In other news' and 'On other things' 


"Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world" - Henry Kissinger

and yet...

"Sooner or later everyone sits down to a banquet of consequences" – Robert Louis Stevenson

Raghuram Rajan - A central banker who 'gets it'

In response to an FT article by Chris Giles on 15th May 2016, entitled ‘India’s central bank governor warns on stimulus overuse’

“Central banks and governments of rich countries are running out of ammunition for stimulating their economies…but they can never admit as much…If your debt to GDP is over 100 per cent, [and you] do more fiscal stimulus, you’d better have a pretty high rate of return in mind, otherwise your younger and middle-aged generations are thinking ‘This thing is not going to return enough, but I’m going to have to pay for it…Is the advent of helicopter money going to result in everybody going out and spending as though there is no tomorrow when they get a cheque? Or are they going to ask, ‘What kind of world are we in when the central bank prints money and throws it out of the window?’”

Raghuram Rajan, May 2016

An astute central banker is almost an oxymoron - this is the guy who saves the phrase from that distinction. 

I await with anticipation the snit, snot and snoot he will get from 'useful fools' like Professor Larry Summers and Dr. Ben Bernanke, who:

a) Haven't got a clue how the real economy works, and

b) Are too arrogant to admit they've made a mistake even when it's as colossal as facilitating the financial-isation of the economy or missing the biggest bubble since the tulip mania.

Well done Mr. Rajan - keep talking.

War on cash Vol 12 - Ken Rogoff still fancies himself as a crimefighter

Zuckerberg manipulating the news? What a shameful suggestion!