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- The Vulnerability of Private Wealth to Government Financial Stress
QEs, Currency Wars, the Trillion Dollar Platinum Coin and the Route to “Modern” Inflation
A government faced with financing its deficits in quantities some multiple of private saving must resort to monetary schemes in order to keep its promises to spend. Monetary schemes are essentially costless ways to pay the government’s bills today while … Continue reading →
About the Spellman ReportLew Spellman is a Professor of Finance at the University of Texas McCombs School of Business. The Spellman Report seeks to interpret current and future trends in the economy and financial markets from the perspective of history, theory, policy and market expectations.
Tag Archives: financial crisis
As we look across the economic landscape there is an abundance of reason to anticipate a global economic slowdown. It is already well in the works as reflected in anticipatory data. It would not be a garden-variety recession emanating from … Continue reading
Fed Chairman Bernanke testified last week that “the situation in Europe poses significant risks to the U.S. financial system and economy”. This indicates the extent to which financial globalism has become a controlling factor in U.S. economic and financial prospects … Continue reading
There has long been a disconnect between gold and institutional investors. The instincts of these managers of large sums are typically tied to the generation of cash flows to feed the monster — that is, the institution’s cash flow needs. … Continue reading
What’s new has often been lived before, but sometimes it’s not pretty. Presumably that’s what Clarence Darrow meant when he said, “History repeats itself, and that’s one of the things that’s wrong with history.” It is becoming increasingly clear that … Continue reading
The Euro debt situation continues to deteriorate and the U.S. is not far behind. All the distress that is now focused on government debt comes from excessive private indebtedness as developed world countries seek to support the private sector. This … Continue reading