Financial Markets
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Dedollarization, the BRICS Expansion, and Sound Money
“Russia and China are leading an effort to not only strengthen cooperation between the five nation BRICS core but to expand the membership of BRICS into a ‘BRICS+.’” ~ Peter C. Earle
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The SEC Limits Most People’s Investment Opportunities
“The bill that the US House passed by a voice vote would require the SEC to develop a test to determine whether someone is knowledgeable enough to forgo the investor protections built into public offerings to the general public.” ~ Gerald P. Dwyer
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Business Conditions Monthly April 2023
“AIER’s April Business Conditions Monthly indicators reflect the disparate, and to some extent offsetting economic signals emergent within the US economy today.” ~ Peter C. Earle
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Waller Offers Common Sense View on Financial Risks of Climate Change
“Climate-related innovation does not seem to pose a unique risk to the financial system. And lenders have a long history of adapting to technological innovation.” ~ Bryan Cutsinger
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Three Proposals for Price Stability
“As a ‘dark horse’ candidate, Ramaswamy has a greater burden of proof before the electorate. He needs to prove his policy proposals are a cut above his rivals’.” ~ Alexander W. Salter
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Bank Term Funding Program Discounts the Discount Window
“The Fed says it created BTFP to ‘support American businesses and households.’ But those businesses and households will ultimately be on the hook if the Fed’s risk-taking turns out to be too much.” ~ Nicolás Cachanosky
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The Path to Full Stagflation
“The US economy looks to be pointed in a troubling direction. Federal unemployment data shows record low unemployment, but state-level data paints a different picture: one where the current ‘stagflation lite’ conditions could soon become fully stagflationary.” ~ Peter C. Earle
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An Astonishing Proposition
“Does the Biden administration believe that home buyers have the moral duty to sacrifice their own objectives in order to help others achieve their goals, and the government should enforce this moral duty?” ~ Peter J. Wallison
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Apple’s Advantage as a Corporate-Backed Bank Alternative
“A more diversified ecosystem for financing has the potential to encourage and incentivize a dynamic and innovative economic system, which is why Apple’s gearing up for what seems to be neobank status is certainly worth paying attention to.” ~ Kimberlee Josephson
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Stagflation Lite: 1st Quarter US GDP Growth Weakens to 1.1 Percent Amid a Renewed Inflationary Surge
“The current US economic environment could be categorized as stagflation lite, demonstrating as it does relatively resilient employment amid increasingly entrenched inflation and weakening growth.” ~ Peter C. Earle
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Hayek and Bitcoin
“By seemingly enormous coincidence, Satoshi (assuming he was unaware at the time), would have probably been delighted to learn that in Hayek’s same ‘sly roundabout way’ video interview, he held up a copy of The Times newspaper and declared: ‘I read this everyday.’ Great minds think alike.” ~ Emile Phaneuf
