Hello. I’m Burnham Banks and I studied economics in the late 80s and early 90s. I’m still studying economics today and am still no wiser. This blog is a journal, a record of my thoughts and experiences. If we are destined to repeat our mistakes, we should at least repeat them faithfully. If not, then perhaps the past is a mischievous guide and we should try something new.
Trump and the Fed. Tussle over Punchbowl.
Monday, 27 August 2018 | 10:10 am
President Donald Trump has been spiking the punchbowl with Vodka just as theFed has been trying to dilute it before the party gets too drunk.
- Published in Articles
No Comments
What Does Trump Want? Economically
Monday, 27 August 2018 | 7:05 am
What is Trumponomics? * A balanced current account, to be treated fairly by trading partners. * High growth through low and declining taxes. * Low interest rates, low borrowing costs. The wish list of the US President is actually quite simple. What confuses or confounds his critics is that conventional economics make his objectives mutually
- Published in Articles
Investment Outlook Update 2018 08
Tuesday, 07 August 2018 | 8:53 am
It is difficult to ignore the short term trends and volatility but I will give it a try. In few other disciplines does luck or chance play a bigger part of the outcome than in investing. The shorter the time frame, the more chance plays a part in the outcome. The longer the time frame,
- Published in Articles
Open and Shut: Immigration
Wednesday, 20 June 2018 | 12:49 pm
Open: Immigration is good for the economy. Unless the allocation of resources is already optimal everywhere, a redistribution of resources (human in this context) can increase the wealth and welfare of the collective. Workers moving from a poor country to a rich one become more productive as they are combined with more and better capital,
- Published in Articles
Finance. A Misallocation of Resources?
Monday, 18 June 2018 | 8:32 am
Hard data is scarce and noisy but according to estimates by the World Bank and OECD, the financial sector accounts for 20-30% of GDP in developed countries. The IMF estimates that total global nominal GDP is some 77.6 trillion dollars of which financial services account for 13.1 trillion dollars or 16%. What services does the
- Published in Articles