Tag: exchange rates

What Mark Carney got wrong

In a recent interview with the Financial Times, former Bank of England Governor Mark Carney made the striking claim that ‘in 2016 the British economy was 90% the size of Germany’s. Now it is less than 70%’. This claim is garbage, for two reasons. Unfortunately, it is just one of a tsunami of fake statistics … Continue reading What Mark Carney got wrong

Could Russian sanctions undermine the US dollar?

So, it’s official. The global rating agency S&P has determined that the Russian government has defaulted on part of its international debt. In itself, this is not as big a deal as it may sound. Nonetheless, the unusual circumstances have revived concerns about the future of the US dollar as the reserve currency of choice … Continue reading Could Russian sanctions undermine the US dollar?