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- Search found 6 items for:
- Financial Markets
- Money and Banks
- 2007
Mises Daily
Author:
John Paul Koning
Online Publish Date:
Though many have dismissed the Federal Reserve’s decision to drop the discount rate from 6.25% to 5.75% as mere window dressing, there are reasons to think otherwise. Citigroup, JPMorgan Chase, Bank of America and Wachovia each borrowed $500 million from the Federal Reserve discount window last week. Average end-of-day Fed credit outstanding for
Mises Wire
Author:
Robert Blumen
Online Publish Date:
The Korea Times reports in this article on the increasing difficulty that the Korean central bank is having in managing its foreign (mostly dollar) reserves. China Daily reports Nation to explore, expand use of forex reserves From the KT: The country’s foreign currency reserves increased $28.6 billion last year to $238.9 billion, marking the
Mises Wire
Author:
Sudha R. Shenoy
Online Publish Date:
A correspondent on the LRC blog refers to the “.... ominous growth in dollar denominated debt instruments held by foreign central banks and foreign investors .. .the impact...when foreigners finally decide to shift their massive dollar holdings from...monetary debt instruments to goods of a non-monetary nature. When this process begins...[it]
Mises Wire
Author:
Jeffrey A. Tucker
Online Publish Date:
Ah, nothing focuses the mind that a good ol’ fashioned stock market sell-off. Nothing is more likely to cause people to decide that Bush is a really bad president, or inspire pessimism about the future. One might think that a war in Iraq and US equity valuations have politically nothing to do with each other, but when portfolios show declining
Mises Wire
Author:
D.W. MacKenzie
Online Publish Date:
Aside from the error identified by Shostak this morning , another error concerning financial markets is that they are systematically irrational - the very opposite error of the EMH. Michael Kinsley , for example, condemns the stock market as a swindle. Kinsley admits that markets do well with commodities, but insists that markets fail elsewhere.