Archive for October 12th, 2011

Central Bank Watch

Would the United States Be Better Off Without a Central Bank?

October 12, 2011

Presidential candidate Ron Paul blames the Federal Reserve for playing a major causal role in the 2007-08 financial crisis and ensuing weak recovery.  Paul has been a critic of the U.S. central bank much longer than in the current business cycle.  His thinking on the matter was heavily influenced some 30 years ago by the […] More

Deeper Analysis

Selected Comparative Economic Indicators

October 12, 2011

The table below compares the latest U.S., euro zone, Japanese and British estimated unemployment rates and on-year percentage changes of industrial production, retail sales, real GDP, and CPI inflation.  Projected 2012 current account to GDP ratios according to the October Economist monthly survey are shown, too.   U.S. Ezone Japan Britain Joblessness 9.1% 10.0% 4.3% […] More

New Overnight Developments Abroad - Daily Update

Significant Drop in Dollar and Yen

October 12, 2011

The dollar is unchanged against the yen but down by 1.8% against the kiwi, 1.7% versus the Australian dollar, 1.3% relative to the Swissie, 1.2% against the loonie, 1.1% against sterling and 1.0% vis-a-vis the euro.  By a 63-35 vote, the U.S. Senate approved the Currency Exchange Rate Oversight Reform Act of 2011 that if […] More