Wednesday, October 1, 2014


Bloomberg | IMF Urges More Oversight of $60 Trillion Shadow Banking System
The International Monetary Fund urged regulators to pay closer attention to a shadow banking system that has grown to as much as $60 trillion worldwide to help prevent risks from building outside the bounds of traditional financial oversight.

Econ Comments & Analysis                                                                                            
Forbes | Money Is Not Wealth -- But It Helps Create Wealth
THE GLOBAL ECONOMY is a mess today because most economists, bankers and political leaders don’t understand that most basic of subjects: money.
Forbes | The Rise And Fall And Rise And Fall Of King Dollar, Part 2
As stated in the preceding column, here, eminent labor economist Jared Bernstein recently called, in the New York Times, for the dethroning of “King Dollar,” claiming that the reserve currency status of the dollar has cost the United States as many as “six million jobs in 2008, and these would tend to be the sort of high-wage manufacturing jobs.”