Keynes, Marx, and Bernanke

Michael Ashton - 04/27/12

Bank Credit Expansion, Velocity, and Inflation

Michael Ashton - 03/19/12

Quarterly Inflation Outlook (Q1, 2012)

Michael Ashton - 02/22/12

Transparently Dovish

Michael Ashton - 01/26/12

A Funny Thing Happened On The Way To Deflation

Michael Ashton - 01/24/12

Long-Term Portfolio Projections Update

Michael Ashton - 12/24/11

 

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Keynes, Marx, and Bernanke

by Michael Ashton on April 27, 2012

By defending the owners of capital, the Fed is actually helping to hold down real wages since there is no reason to substitute away from capital to labor. But this doesn't mean nominal wages won't rise. Read more »

Bank Credit Expansion, Velocity, and Inflation

by Michael Ashton on March 19, 2012

How does the recent recovery in Commercial Bank Credit related to money velocity, and what does it say about inflation? Read more »

Quarterly Inflation Outlook (Q1, 2012)

by Michael Ashton on February 22, 2012

This quarterly report is intended to give our clients and select prospects an overview of the economic and financial conditions as they relate to the possibility for an acceleration or deceleration of inflation. This is the report for Q1 2012, published February 21, 2012. Read more »

Transparently Dovish

by Michael Ashton on February 3, 2012. Updated on January 26, 2012.

The Fed's statement yesterday is unmistakably dovish - and the Chairman's statement goes as far to the dovish side as anything we have probably ever heard from a Chairman of the Federal Reserve before. Read more »

A Funny Thing Happened On The Way To Deflation

by Michael Ashton on February 3, 2012. Updated on January 24, 2012.

There seems an awful lot of talk about QE3 and the risks of deflation considering that core inflation is rising in every developed economy, and has been for more than a year. Read more »

Long-Term Portfolio Projections Update

by Michael Ashton on December 30, 2011. Updated on December 24, 2011.

We present here the results of some simple models of long-term asset class returns and their implications for the decade ahead. Read more »