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The Cobden Centre has been established to promote social progress through honest money, free trade and peace. We endorse Richard Cobden's view that:
Peace will come to earth when the people have more to do with each other and governments less.

Recent articles

Yield curve and the US economy

2 September 14 by Dr Frank Shostak

So far in August the differential between the yield on the 10-year Treasury note and the yield on the 3-month Treasury bill stood at 2.38% against 2.95% in December 2013.

Historically the yield differential on average has led the yearly rate of growth of industrial production by fourteen months. This raises the likelihood that the growth [...]


Storm warning

 by Tim Price

“When Nobel Prize-winner Joseph Stiglitz was asked in Germany this week if the country and its neighbours would suffer a lost decade, his response was unequivocal. “Is Europe going the same way as Japan ? Yes,” Mr Stiglitz said in Lindau at a meeting for Nobel laureates and economics students. “The only way to describe [...]


Did “The Nixon Shock” Lead to Nixon’s Resignation?

30 August 14 by Ralph Benko

This month we observe the 40th anniversary of the resignation, under threat of imminent impeachment, of President Richard M. Nixon. Nixon aide and loyalist Pat Buchanan sums up, in a column in USA Today Liberal Elites Toppled Nixon his view:

“Richard Nixon was not brought down by any popular uprising. The breaking of his presidency was [...]


Money, Macro & Markets

28 August 14 by Sean Corrigan

First it was the government’s miraculous ability to deliver on-target GDP growth that got the permabulls bellowing again, then it was the striking (world-beating, one might even say), 12% currency-adjusted rally in its stock market that got them triumphantly pawing the ground. Nor did the drop in interest rates serve in any way to dampen [...]


Why doesn’t monetary pumping help economic growth?

23 August 14 by Dr Frank Shostak

Despite all the massive monetary pumping over the past six years and the lowering of interest rates to almost zero most commentators have expressed disappointment with the pace of economic growth. For instance, the yearly rate of growth of the EMU real GDP fell to 0.7% in Q2 from 0.9% in the [...]