Federal Reserve

Paul Summerville • janvier 31, 2016


What I'm listening to.

Mozart -- Concerto for Flute and Harp K.299

The future may not be what it used to be.

Paul Summerville • septembre 7, 2014

Why your local broker doesn’t stand a chance.

London Review of Books -- Be grateful for drizzle

Paul Summerville • décembre 15, 2012

Commentary on printing money, differing points of view on Mervyn King, the battle against unions, chatting about religion, Japan’s 94 year old candidate, and fishing with Mark.

Printing money until the end of time.

Paul Summerville • décembre 14, 2012

Commentary on climate change and melting poles, the history of global GDP in one chart, the Fed’s new framework, survival Euro, why the minimum wage is good, and squaring the foreign investment circle in Canada.

Paul Summerville • décembre 10, 2012

Commentary on outsourcing U-turn, austerity failing, the Fed is about to move to outright purchases of long bonds, the extinction of the Brontosaurus, GOP split, sperm count fears, and a tribute to Bev.

Coming to America (and Canada).

The Atlantic -- The Insourcing Boom
After years of offshore production, General Electric is moving much of its far-flung appliance-manufacturing operations back home.

Paul Summerville • septembre 12, 2012

Commentary on fake monetary magic, what’s next for the Eurozone, America’s political nightmare, China’s self-inflicted wounds, and the Harper Government’s dangerous scientific blind spot.

Wonderful piece on real meaning of the Wizard of Oz and what is tells us about our current economic malaise.

Paul Summerville • septembre 11, 2012

Commentary on why men fail, the debt blob, why QE doesn’t work, the fatwa and Rushdie, sorting our gene junk, and women in politics in Canada.

Mars can’t change.

New York Times -- Why Men Fail
You’re probably aware of the basic trends. The financial rewards to education have increased over the past few decades, but men failed to get the memo.


Paul Summerville • septembre 4, 2012

Commentary on the lack of progressives in the US election, the Fed’s unconventional dance to continue, the death Moon Sun-myung, East Asia blues, and why they choose Canada.

The special interests dominate.

Paul Summerville • août 9, 2012

Commentary on changing inflation expectations, understanding the Japanese automotive market, even the BBC succumbs to jingoism, is election 2012 about a women’s place, and Harper's trouble with Nexen.

Until the Fed raises inflation expectations the economy is doomed to slow growth.

Economist -- The Way Forward
I'VE been moaning all summer about the world's central bankers, twiddling their thumbs while disaster looms.


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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.