The Panic of 1907 was a financial crisis that occurred in the United States in October 1907. The crisis was marked by a series of bank failures and stock market crashes that resulted in widespread economic hardship. The causes are akin to many banking crises that have succeeded this economic catastrophe – rampant speculation andContinue reading “Banking Crisis: 1907”
Tag Archives: politics
Great Recession: Monetary failure
A calamity that shaped the past decade, the Great Recession marked an end to the Great Moderation, three decades of prosperity. The root causes behind the Financial Crisis and the subsequent Great Recession are complex. A speculative shadow banking sector was supported by reckless Central Banks, bailing out financial institutions and promoting the culture ofContinue reading “Great Recession: Monetary failure”
Terrific Trickle-down Economics?
‘Tax cuts for the rich!’ A cry consistently echoed by those against reducing top tax rates. ‘Trickle-down economics,’ a phrase first uttered by President Franklin Roosevelt in the depths of the Great Recession, despite no economist in history supporting this line of reasoning. Unfortunately, the facts suggest otherwise. Reducing top tax rates from punitive levels,Continue reading “Terrific Trickle-down Economics?”
Stop-go Monetary Failure: 1970s’ Inflation
Inflation. Squeezing millions of households across the UK to the brink. Excessive stimulus by Central Banks globally, particularly the Federal Reserve and the Bank of England, have exacerbated supply side shocks. Economists likening the inflationary shocks of the 1970s are misguided. The Great Moderation, the three decades of economic stability and growth that succeeded theContinue reading “Stop-go Monetary Failure: 1970s’ Inflation”
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