Tag Archives: Euro

Understanding the latest QE

On January 22, 2015, the European Central Bank announced a new QE program. In this audioblog, I attempt to decode what was done and the risks that it involves. 1. What is QE? Campbell Harvey: (MP3) 2. What is the … Continue reading


The Cult of Bailout

  What single word best characterizes policy responses in this on-going financial crisis? “BAILOUT”. It goes something like this. You take a lot of risk and reap lots of rewards (be it in pay, bonus, or social programs). You get … Continue reading