Author Archives: Jesse

Guest Post: Is Sheila Bair an Unsophisticated Hick?

Served by Jesse of Le Café Américain “Flagrant evils cure themselves by being flagrant; and we are sanguine that the time is come when so great an evil…cannot stand its ground against good feeling and common sense…” John Henry Newman The reporter on Bloomberg television just mentioned as a snide, smirking editorial aside, that Sheila […]

Read more...

Guest Post: Janet Yellen Channels Ronald Reagan

Served by Jesse of Le Café Américain “You know, Paul, Reagan proved deficits don’t matter.” Dick Cheney to Paul O’Neill The mainstream media is reporting that Fed governor Janet Yellen, a noted dove on inflation as Fed governors go, just told a gathering of bankers in Idaho that “deficits do not cause inflation” and summarily […]

Read more...

Guest Post: The Fed’s Currency Swaps

Served by Jesse of Le Café AméricainSome controversy was triggered over a line of questioning this morning during Ben Bernanke’s testimony before Congress, as reported on some of the top financial blog sites Zerohedge and Naked Capitalism. We read them both daily and are often envious of the depth and breadth of their expertise. Congressman […]

Read more...

Guest Post: There Will Be No Recovery

Submitted by Jesse of Le Café Américain “The banks must be restrained, and the financial system reformed, and balancerestored to the economy, before there can be any sustained recovery.” Often a closing comment from our blog, essentially this is what Robert Reich is saying in his recent essay on the economy. The median wage must […]

Read more...

Guest Post: Price, Demand, and Money Supply as They Relate to Inflation and Deflation

Served by Jesse of Le Café Américain There are three basic inputs to the market price of a product or service: 1. Level of Aggregate Supply2. Level of Aggregate Demand3. Relative Value (purchasing power) of the Medium of Exchange Let’s consider supply and demand first, since they are the most intuitively obvious. The market presents […]

Read more...