Over the years, the blog has been very critical of the quality of people appointed by the US Federal Reserve to undertake the actual trading involved in its ‘Quantitative Easing’ (QE) programmes: In October 2008, it felt “distinctly underwhelmed” by news that the person supervising decisions on which financial institutions should live or die during the peak of the Crisis […]
Chemicals and the Economy
Quantitative Easing – where it all went wrong
Back in September 2011, the Bank of England published the chart above to show how it expected Quantitative Easing (QE) to revive the UK economy*. It argued: “How does the economy adjust to asset purchases? “The overall effect of asset purchases on the macroeconomy can be broken down into two stages: an initial ‘impact’ phase and an ‘adjustment’ […]
Consensus views on growth, commodity regulation, start to change
In early March, the blog described itself as feeling like “a lonely voice, focused on what is really happening in the real world”. But gradually since then, the consensus view on growth and commodities regulation has begun to shift in its direction. For example, a recent New York Times article on China by Nobel Prize-winner Paul Krugman could have […]
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