Federal Reserve

Paul Summerville • June 16, 2012

Commentary on the responsibilities of democracy, Facebook’s attempt to map human behavior, the case for Fed easing, Arctic’s hidden treasures, the great Bieber contagion, and the Liberals only chance.

How Greece got swallowed by its own invention.

Paul Summerville • May 5, 2012

Commentary on who should set interest rates, America’s 21st century depression, Euro crisis deepens, Big Mac and economics, and the Justin frenzy.

Ron Paul versus Paul Krugman.

Bloomberg – Paul versus Paul
Nobel-prize winning economist Paul Krugman and Republican presidential candidate Ron Paul talk about inflation, monetary policy and the role of the Federal Reserve.


Paul Summerville • April 4, 2012

Commentary on Israel, the economic principle that underlies the individual mandate, Nutraloaf and life in an American prison, Canada and Russia, James Grant on the Fed, a guide to spring cleaning, and Bob Rae takes the gloves off.

So it goes.

Paul Summerville • September 30, 2011

Article on the utility of the land value tax, the Fed’s liquidity trap, Pakistani games, the weakness in emerging economies, the triple tax idea, the commodity recovery, and how to improve Canadian justice.

We have long advocated that steadily increasing the tax on empty urban land is smarter tax policy than doing the same to developed land.

Paul Summerville • September 22, 2011

Articles on the Fed’s last gasp, why Israel should embrace UN resolution, a Marxist prescription for Europe, a right of centre take on tuition, Michael Pettis on why Japan was different, and the global recession finally catches up with Canadian financial assets.

The Fed sees ‘significant downside risks’.

Paul Summerville • September 20, 2011

Articles on the Fed’s next move, the invisible hand of the state, Europe unravels, America turns it back on free trade, and Paul Martin’s fix for Canada.

Twist and shout. (ed’s note: IOER - Interest On Excess Reserves)

Pragmatic Capitalism -- WHAT’S A FED TO DO ON WEDNESDAY?
There’s much anticipation over this Wednesday’s FOMC decision.  

Related. Complex, but worth it.

Paul Summerville • September 17, 2011

 Articles on how oil gets priced, the truth about the Euro, the truth about investment banking, lying journalists, the coming age of defaults, and Ignatieff unmasked.

Oil pricing. Thanks to Nigel DDEHIO of Victoria.

Pdf below – Things that go Hmmm …

The European Parliament’s pain in the ass British politician and the leader of the UK Independence Party (UKIP) Nigel Farage because he brings truth to power. Great video.

Paul Summerville • June 27, 2011

Articles on Europe’s unraveling, the coming of taxation on world-wide income for Canadians, why legacy airline companies can’t be profitable, why the home team wins, Taliban tricks, new entrepreneurs in Japan, James Grant slams the Fed, paralysed economic policy, energy efficiency and cars, the end of liberal intervention, immigration and the economy, and when an American visited China in 1973.

Going backwards.

Paul Summerville • June 13, 2011

Articles on the uncertain impact of QE2, Bob Rae’s budget rebuttal framed by Will Hutton’s devastating commentary on the right’s mindless attack on the state, the power of Deutsche Bank, the challenges facing Canadian cities, and Mayor Dean Fortin’s economic strategy for the city of Victoria.

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Twin Virtues: Inequality of Outcomes & Equality of Opportunity©

Twin Virtues

Ultimately, the most successful societies find the balance between the twin virtues of inequality of outcomes and equality of opportunity.

The new politics must marry the twin virtues of unequal outcomes and equality of opportunity.

When too few get too much everybody loses.

Feminism is about women living their lives on their own terms, marshalling the resources of the society to make that possible, and men embracing this as vital to a successful society and their own liberation.

Can it be that striving for equality of opportunity however imperfect the process not only benefits the individual but also creates benefits for the society that are unintended but wonderful?

Economics must be a 'moral enterprise' as much as politics claims to be. Economic outcomes need to be framed in terms of right and wrong not just efficiency if only because these often align in surprising ways that are good for society and the economy.

My vision of Canada is that any Canadian child from a family of limited circumstance can expect to have a chance at lifetime of unlimited opportunities.

Free trade is a wonderful thing. Time and time again economists have proven that free trade creates enormous wealth for each country 'on the whole'. Historians have shown that free trade is usually associated with rising political, social and cultural liberty. The perennial problem is that free trade always creates tremendous disruption for thousands even millions of individuals often concentrated in one geography, and where the state is idle, not investing in best in class instruments of social justice, free trade can be a permanent ticket out of the middle class, down, not up.

Tax policy should be founded on the principle of generating steady tax revenues sufficient to maximise environmentally sustainable economic growth in order to fund fair government.

Public policy should be designed to decrease inequality before the law and increase equality of opportunity.

Capitalism is not the problem; the problem is what we do with capitalism.

Content is always more difficult to argue than conspiracy.

Let the state regulate and the market operate (most things).

Welfare strategies are best designed as a hand up, not as a hand out.

Political debate should not be fact free fighting.

Explanation lasts longer than eloquence.

Always favour empowerment over dependency.

The most enduring public figures are embraced for the causes they fought for and not the concept of themselves they hoped others would remember them by.

Find your voice and don't be the echo of somebody else.

It is possible to operate on two different levels: the practical, cautious and conservative; and the realm of ideas, open, free, and radical.