9/16/2014 There's a $1.6 trillion emerging-market bond fever worrying BIS Because of low returns in major economies' debt, the US, UK, Japan, and EU, etc., investors have invested in higher yielding debt from emerging economies. That higher yield means higher risk hasn't deterred investors, at least not yet.
Darryl Robert Schoon discusses the present, the past and the future of the crisis. He also shares his response to a request from an 8th grade student doing a report on the economic collapse.
DRSCHOON.COM features the articles of Professor A. E. Fekete of the New Austrian School of Economics, a leading expert on gold and its role in financial markets and the economy.
The Wisdom of Adam Smith for Our Own Times
- A Rejoinder -
Let us celebrate the 291st birthday of the great Scottish economist together and let us rehabilitate his Real Bills Doctrine!
Richard Ebeling in the June 3rd issue of the Daily Bell under the same title contributed a much needed reminder of the relevance of Adam Smith's wisdom to our contemporary world. I am not going to speculate whether the omission of not mentioning Adam Smith's Real Bills Doctrine was accidental or deliberate. However, it is well known that post-Mises Austrian economists have taken a disdainful view of the Real Bills Doctrine and it would have been nice to have Ebeling's coherent articulation of their position. I can do no better than revisiting Adam Smith's great contribution to the theory of money and credit (which, significantly, received the nihil obstat of Carl Menger a hundred years later) for the benefit of the Daily Bell's readership. full article...