The ECB: Both a Solution and a Problem for European National Policies
June 24, 2024The European Union is repeating the same mistakes the United States made during the Great Depression of the 1920s and 1930s. Europe needs fiscal stimuli and budget deficits. Unemployment and the decline in purchasing power are not the result of “budgetary indiscipline,” but rather stem directly from weak demand. This lesson from the…
Economists on the verge of nervous breakdown
September 9, 2020Central banks are lost, and central bankers are now blatantly admitting that their tools and other monetary policy instruments used for decades to correct economic cycles no longer work! Yes: they have lost their magic touch, these central banks which are no longer omnipotent, including the most powerful of them, namely the US Federal…