News
Market Watch | Fed sees froth but no asset bubbles: Yellen
The Federal Reserve has detected a few markets exhibiting signs of froth that will require close scrutiny in coming months, but there are no signs of any significant asset bubbles at the moment, said Janet Yellen, the vice chairwoman of the U.S. central bank, in a speech in Tokyo on Thursday morning.
Econ Comments
National Journal | Luetkemeyer: U.S. Could Go the Way of Greece
House Financial Services member also takes issue with U.S. holdings in Europe.
CNN: Money | The Fed's summer of discontent
QE2 is almost over. Our long economic nightmare? Not so much.
Minyanville | Yuan Is Not a Paper Shelter for a US Dollar Collapse
Because of China's ties to the US consumer, the yuan may not prove to be a worthy shelter if the dollar decline continues.
WSJ | Economy Needs a Borrower of Last Resort
A lack of funds isn't hampering the U.S. economy right now. It is a lack of demand for them.
RCM | Why Robert Mundell Is Wrong About the Dollar/Euro
Nobel Laureate Robert Mundell and his followers have made some noise of late about the need to achieve a fixed exchange rate between the dollar and the euro. About their desire for an exchange rate fix they're certainly correct, though they're wildly incorrect in suggesting that inflation and deflation can be cured if the U.S. Treasury simply ties the dollar to the euro.
Forbes | Inflation Won't Wait For The Banks
It is the existence of newly created money that hastens the dollar's decline.
Blogs
Marginal Revolution | The “New Monetary Economics” is alive and well
Although the term has fallen out of use, in the last three to four years the NME has made a big comeback, albeit not under that name:
Atlantic | Euro in Crisis
I've been making the argument for a long time--at least seven years in print, and in private before that--that the eurozone looks about as stable as the Unabomber. Especially when you have a fiat currency, you need to think about what makes an optimal currency zone--the largest unit that can easily share a unit of money.
