by
Adam Taggart
resources
by
Gregor Macdonald
The Federal Reserve is probably not ready to take the aggressive plunge into Nominal GDP Targeting, but it likely will.
Such a policy, which received wider attention during Ben Bernanke's Congressional questioning last year and was also highlighted this year in a paper delivered at the Jackson Hole conference (Woodford, opens to PDF), has not caught any visible traction with Washington policy makers possibly because it’s seen as either too radical, or simply too new.
However, after four years of broad reflationary policy (and another year to come) failing to meaningfully spur U.S. employment growth, the Fed may be willing to try such measures by late next year, 2013.
The War Between Credit and Resources
by Gregor MacdonaldThe Federal Reserve is probably not ready to take the aggressive plunge into Nominal GDP Targeting, but it likely will.
Such a policy, which received wider attention during Ben Bernanke's Congressional questioning last year and was also highlighted this year in a paper delivered at the Jackson Hole conference (Woodford, opens to PDF), has not caught any visible traction with Washington policy makers possibly because it’s seen as either too radical, or simply too new.
However, after four years of broad reflationary policy (and another year to come) failing to meaningfully spur U.S. employment growth, the Fed may be willing to try such measures by late next year, 2013.
by
Gregor Macdonald
Executive Summary
- Why purchasing power and quality of life will decline in OECD countries, even as economic 'growth' is maintained
- Why 'energy mix' is as critical as 'energy supply'
- The potential of natural gas as a "bridge" fuel
- Why we're inheriting a "slower moving" world
If you have not yet read Part I: The War Between Credit and Resources, available free to all readers, please click here to read it first.
Low-Quality GDP
Declinists have been surprised by the ability of policy makers to slow the rate of our post-Peak-Oil financial collapse using quantitative easing. But the global economy stopped funding new industrial growth with oil starting seven years ago. Accordingly, the transition to coal as the source to fund growth was well underway before the financial crisis began.
And it remains vexing, to be sure, to understand how the world economy has been able to move forward – at least a little – in the post-2008 environment.
Nevertheless, we now have those answers and no longer need to forecast an imminent black swan or tail event…
What Happens Once We’ve Burned All the Resources?
PREVIEW by Gregor MacdonaldExecutive Summary
- Why purchasing power and quality of life will decline in OECD countries, even as economic 'growth' is maintained
- Why 'energy mix' is as critical as 'energy supply'
- The potential of natural gas as a "bridge" fuel
- Why we're inheriting a "slower moving" world
If you have not yet read Part I: The War Between Credit and Resources, available free to all readers, please click here to read it first.
Low-Quality GDP
Declinists have been surprised by the ability of policy makers to slow the rate of our post-Peak-Oil financial collapse using quantitative easing. But the global economy stopped funding new industrial growth with oil starting seven years ago. Accordingly, the transition to coal as the source to fund growth was well underway before the financial crisis began.
And it remains vexing, to be sure, to understand how the world economy has been able to move forward – at least a little – in the post-2008 environment.
Nevertheless, we now have those answers and no longer need to forecast an imminent black swan or tail event…
by
Old Hippie
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