Yes, the Germans are concerned that ECB bond buying and direct funding might be inflationary, but there is something even more fundamental supporting their objection to ECB support.

The problem is, the EU leaders believe the high rates, failed auctions, and related funding and liquidity issues are caused by...

Hardly an hour goes by without some pundit pushing the possibility of some kind of run away inflation, with Zimbabwe and Weimar rolling off the tongues of ordinary Americans everywhere. And Congressman and candidates of all persuasions continuously lambaste the Fed for debasing the currency.

There's no question the Fed...

I realize it's not a perfect analogy, but due to poor communications, the battle of New Orleans was fought well after the War of 1812 had ended. Likewise, the Congressional super committee is fighting the battle for deficit reduction long after the vaporization of the primary reason driving that move...

This proposal will help stabilize the euro financial structure and provide a bit of income from service fees for U.S. member banks.

The Fed has an account at the European Central Bank (ECB). While banks can have accounts at the ECB, they are not currently segregated from the bank's balance...

It's been more than 10 years since the economics department at UMKC (University of Missouri at Kansas City) introduced its own currency. It's called the buckaroo, named in sync with the school mascot, the kangaroo.

It all began when the department indicated a desire to have students contribute their time...

This is the speech I would make if I were President Obama:

My fellow Americans, let me get right to the point.

I have three bold new proposals to get back all the jobs we lost, and then some. In fact, we need at least 20 million new...

Congressman Ryan's response to President Obama's State of the Union address included
something we've all heard a lot of ever since.

He warned along the lines that that the U.S. could become the next Greece, and be faced with some kind of a sudden financial crisis, where the world...

From Warren Buffet to Alan Greenspan and from all the responses to the S&P downgrade by economists and financial professionals from the four corners of the world, THE WORD IS OUT:

The US government is the issuer of the US dollar.

So no matter how large the federal deficit might...

Imagine a card game, where every entity in the economy is one of the players, and you, Congress, are the scorekeeper.

The message here is the difference between being the scorekeeper and being a player. The problem is, you are acting like one of the players when, in fact, you...

Business doesn't create jobs -- consumers do!

It is an article of faith by all parties involved that businesses are the job creators, particularly small businesses, and hence their every move is predicated on helping businesses create jobs.

Mercy! Can't they get anything right?

Businesses hire to service consumers. A...

The following is an outline that I proposed for a new Greek government bond issue to provide all required medium term euro funding for Greece on very attractive terms. It is now making the rounds in Europe as an alternative to the French Plan that is currently under serious consideration

The headline progressives are in full retreat. They have found out the hard way that their bleeding heart pleadings -- 'yes, the financial markets might destroy us, but how can we cut this or that worthy cause' -- don't cut it. They have fallen into the out of paradigm world...

The current mortgage crisis is not a real economic crisis.There have been no houses that have been actually destroyed - there has been no fire, no hurricane, or no earthquake damage. It's entirely a financial crisis, at least so far. So the government appropriate response doesn't include bulldozers, hammers and...

The debate organizers opted not to include me as the representative of the third largest political party in Connecticut, the Independent Party. I did, however, watch the proceedings on television. We are in an economic emergency, and I'm running for the US Senate strictly as a matter of conscience to...

As a former Tea Party Democrat and frequent speaker at Tea Party rallies, I am deeply dismayed by the well publicized Tea Party demands to balance the budget. Such thinking is based on abject ignorance and counter to true Tea Party values. The Tea Party's demands to balance the budget...

David Stockman, a director of the Office of Management and Budget under President Ronald Reagan, is working on a book about the financial crisis and recently wrote an editorial for the New York Times titled "Four Deformations of the Apocalypse." Unfortunately, it only further illustrates the complete inability of our...

Small banks, already penalized with a higher cost of funds than the large banks

Bank regulators distinguish between what they call 'retail' and 'wholesale' funding, and have set limits of...

The move to privatize Social Security is again rearing its ugly head at a series of town hall meetings sponsored by the Peterson gang of deficit terrorists. And one of the major discussions in Washington is whether or not to privatize Social Security. As you might be guessing by now,...

The G20 has dropped its support for fiscal expansion. The deficit hawks are prevailing. But why is that? We all either know or should know that operationally Federal spending is not constrained by revenues, as Chairman Bernanke stated last year, when asked on '60 Minutes' by Scott Pelley where the...

I wrote this article about the Euro in 2001 and it is very apropos today.

I am currently reminded, in the these times of sustained concern about the Euro, that I used to say "It's an unstable equilibrium." It is like balancing a marble on top of an upside down...