Target zero inflation

The majority of central banks focus on a 2% inflation target. In the developed world, we are experiencing inflation well below this level. I argue this is creating a debt spiral which is completely unnecessary if the true objective should be to increase GDP per capita and equality of income and wealth. Over the past...Continue reading

Good parenting

When a child misbehaves the best method is to correct their behaviour immediately, little and often. This keeps them 'honest'. Not doing so only enforces a message that misbehaviour is acceptable. Giving in to bad behaviour is even worse, it condones bad behaviour. As banks are required to hold reserves at the Fed under capital...Continue reading