Money matters. That’s why I have kept my eye on Greece’s money supply (M3). It’s been contracting in an increasing rate since February 2010. Since March 2010, I have concluded that the writing was on the wall and that all the debt sustainability numbers calculated by the International Monetary Fund, the European Union and the Greek government could be thrown in their respective bureaucratic trash cans. Well, even though the Bank of Greece is still behind the curve, it’s catching up. The Bank has just revised its forecast of Greece’s 2012 growth – down from -4.5% to -5.0%. The current annual rate of contraction (-19%) of the Greek money supply guarantees many more eruptions from that Balkan nation.
Featuring the author Angus Deaton, Dwight D. Eisenhower Professor of Economic and International Affairs, Woodrow Wilson School of Public and International Affairs & Economics Department, Princeton University; with comments by Charles Kenny, Senior Fellow, Center for Global Development; moderated by Ian Vasquez, Director, Center for Global Liberty and Prosperity, Cato Institute.
- Legal Briefs
- Cato Handbook for Policymakers
- Cato Journal
- Cato's Letter
- Cato's Letters
- Cato Papers on Public Policy
- Cato Policy Report
- Cato State Legislative Guide
- Cracking the Books
- Economic Freedom of the States of India
- Economic Freedom of the World
- Public Comments
- Supreme Court Review
December 6, 2013
Tim Lynch discusses the rising number of arrested D.C. police department officers on WUSA’s 9 News at 6pm
December 5, 2013
Interest rates should be determined by the interaction of savers and investors, not driven by the arbitrary whims of government officials in Washington.
The 2008-2009 financial crisis and Great Recession have vastly increased the power and scope of the Federal Reserve, and radically changed the financial landscape. This new ebook examines those changes and considers how the links between money, markets, and government may evolve in the future.