The Kohler Report. Roubini. Jim Rickards Blog. Nassim N. Taleb Home & Professional Page. Steve Keen's Debtwatch | Analysing the Collapse of the Global Debt Bubble. I’ve attended two conferences in two days where both the power and the impotence of the European Central Bank (EBC) have been on vivid display. Its political power is considerable, both in form and in substance. At both seminars, the ECB speaker—ECB Board member Peter Praet at the first, and ECB President Mario Draghi at the second—spoke first, and then left. In form, the ECB has no need to defend its policies because it is unimpeachable in its execution of them. In substance, it does not even considering engaging with its subjects—I use the word deliberately—in open and robust discussion. The position of the economy in the environment is a shared blindspot in economics: no existing school handles the topic well, and yet this is the key issue we need to understand.
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