A quick hello, and thank you, to all the new Patrons who signed up after hearing this interview with Max Keiser & Stacy Herbert, which I recorded just before leaving Amsterdam for Sydney last week.
I recommend that existing Patrons listen to the show from the start, as Stacy details some discussions she had on Twitter about the effect of Quantitative Easing on asset prices. She was arguing that QE has inflated asset prices, and was challenged by another good friend of mine, Frances Copolla. Danny Blanchflower, who was on the Bank of England's Monetary Policy Committee at the time that QE was implemented, chimed in and supported Stacy by saying that the whole idea of QE was to inflate asset prices.
I'm on Stacy's side on this issue. I covered the role of QE in inflating asset markets in this post:
I also wrote a submission on it to a UK government inquiry (which was lost by the secretariat and not submitted to the relevant committee!). That more detailed exposition is attached as a PDF, as is the key Minsky model I developed for the submission (you can download Minsky from https://sourceforge.net/projects/minsky/).
Finally, my apologies to the new Collaborator patrons that there will be a large delay in sending out signed copies of my books. For reasons explained in the Welcome page, my entire book collection, including copies of my own books for Patrons, are still in boxes awaiting being unpacked in my new flat in Amsterdam. I'm hoping that the furniture I need to unpack them into will be in my flat by late January, and I can finally fulfil this commitment.
Lastly, there's a lot of information on this site now, but finding it isn't easy. At some point in 2019 I hope to use my www.ProfSteveKeen.Com site to organise the material I post here, but in the meantime, here are three highlights from the last year's work that you might find interesting:
On energy and ecology: "A Note on the Role of Energy in Production" published
On Austerity: Can’t we all be Swabian Housewives?
On Financial crises: OECD NAEC Lehman Brothers Anniversary Conference
This will surely be my last post for 2018, so I wish you all a fun New Years Eve, and personal sanity in 2019, amidst the overall insanity of modern society.