Author Archives: Andy Frith

Kept in the dark

In my last post, I shared the news that the MPC keeps no minutes of its meetings. I had pondered whether there would be any gain in trying to use the Freedom of Information Act to force the Bank to … Continue reading

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What has the MPC got to hide?

News to light the fires of the paranoid and conspiracy theorists out there: The Bank of England’s Monetary Policy Committee (MPC), the group which decides on interest rates each month, keeps no minutes of their meetings. We’ve argued on this … Continue reading

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The Bank of England must share the blame for the cost of living

Many central banks now have “inflation targets” that they are required to meet, and such targets are set by the government. For the Bank of England, this target is 2%, and is based on the Consumer Price Index (CPI). Some … Continue reading

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Quote of the Day

Upon observing an airplane fly, one doesn’t assume that apparently the law of gravity doesn’t apply to metal plane-shaped things. Rather, you intelligently realize instead that other forces must be in operation on the plane. Similarly, we should not assume … Continue reading

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The illusion of stock market prosperity

The ups and downs of the stock market is reported daily, hourly – continuously on some news channels. Stock markets are seen as indicators of the overall economy. A rising stock market means prosperity, and a falling stock market spells … Continue reading

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The debt limit explained

I’ve been too busy to post much recently, but this is a nice satirical look at the US debt limit: H/T Coyote Blog

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The subtle Cantillon effects of inflation

The biggest problem with increases in the money supply is not that it causes a rises in prices – that monetary inflation can cause price inflation – for this is what we would expect to happen in most cases. Rather, … Continue reading

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