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John Butler

Articles by this author (23)

July’13 Newsletter: Asset Bubbles Become Policy Bubbles

by Gordon Kerr, John Butler, with Enrico Colombatto    15 July 2013    0

Leaders, institutions and markets are all looking for guidance to get out of the present crisis. Government confidence is at stake, institutions’ credibility is jeopardized and banking is close to fraud and collusion. Leaders looking for a compass In the first phase of the current financial (...)


February’14 Newsletter: A Weak Recovery Turns Monetary Policy Into A Gamble

by Enrico Colombatto, Gordon Kerr, John Butler    18 February 2014    0

European growth stutters along as fear of deflation exerts pressure on the ECB to loosen monetary policy further. January began with a raft of optimistic news stories. For example, the government deficit/GDP ratio for the entire Euroarea (EA17) fell from 3.3% to 3.1% from the second to the (...)


March’14 Newsletter: A Questionable Recovery

by Enrico Colombatto, Gordon Kerr, John Butler    17 March 2014    0

The quality of the recovery remains questionable. In the meanwhile, banks must deal with new regulation and investors look for higher yields. Money: too cheap for the Ukraine, never cheap enough for the West. Ukraine’s economic woes are connected to the Euro-American cheap money policy more (...)


April ’14 Newsletter: Is the Recovery Sustainable?

by Enrico Colombatto, Gordon Kerr, John Butler    15 April 2014    0

Recovery has started, according to some data. Is it sustainable? Or is it based on asset prices inflated by easy monetary policies? Inside this newsletter: * Bond markets and the real economy * Central Banking – The Illusion of Tapering * The Return of Bubbles? Bond markets and the real (...)


May’14 Newsletter: Three clear questions with unclear answers

by Enrico Colombatto, Gordon Kerr, John Butler    16 May 2014    0

Three fundamental questions have emerged, but clear answers still have not: Free floating for the hryvnia? New bureaucrats in Brussels? New rules for high-frequency trading? Ukraine’s IMF Bailout Too many policymakers seem more concerned with the Ukrainian currency than with the (...)


June ’14 Newsletter

by Enrico Colombatto, Gordon Kerr, John Butler    19 June 2014    0

Central Banking Confidence in the ECB wobbles as commentators on all sides question the effectiveness of supposedly growth stimulating new policies. Markets and Investment At least two big takeover deals are being negotiated in Europe now, both with heavy government involvement. The (...)


July’14 Financial and Fiscal Features Newsletter

by Enrico Colombatto, Gordon Kerr, John Butler    11 July 2014    0

BIS has doubts about monetary policy in the Euro area Latest BIS Report says that present monetary policies risk permanently destabilizing the global economy. It calls for A New Policy Compass, focussing on the ‘Financial Cycle’, not the Business Cycle. Banks remain fragile and imbalances (...)


September’14 Financial & Fiscal Features Newsletter

by Enrico Colombatto, Gordon Kerr, John Butler    10 September 2014    0

Low interest rates contribute to weak labour markets A new measure of Unemployment and Labour Market Conditions gains support at the Annual Jackson Hole Conference. Doubts continue about European QE as near-zero interest rates may actually be preventing employment from picking up. Concerns (...)


October ’14 Financial & Fiscal Features Newsletter

by Gordon Kerr, John Butler, with Enrico Colombatto    13 October 2014    0

Although Scotland voted in September to remain in the United Kingdom, both sides hailed the high voter turnout as recognition of democratic engagement and growing European dissatisfaction with over-centralised, bureaucratic, seemingly unaccountable government. The effect has been to raise (...)


January’16 Financial & Banking Features Newsletter

by Gordon Kerr, John Butler, with Enrico Colombatto    15 January 2016    0

Central Banking – The Bank for International Settlements again Questions Prevailing Central Bank Policies. The BIS has recently published two reports. In one, appearing to embrace the Austrian School of economic thought, it attributes the weakness of the present advanced economy recoveries to (...)


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