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Contra Club

Monetary Lunacy At Work: IMF Puts 0.05% “Floor” Under SDRs

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Keynes must surely be rotating in his grave. It turns out the IMF is not going to lend SDRs for less than nothing, thus breaking ranks with some well-known central banks out there (no need to name names), and even the central bank-manipulated “market” in which investors accept negative rates on certain government bonds as if that made any sense….

Nobel Winner Jean Tirole’s Faulty Views on Monopoly

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We suggest that the whole idea of government regulating large firms in order to promote competition and defend people’s well-being is a fallacy. If anything, such intervention only stifles market competition and lowers living standards. Alfred Nobel’s goal was to reward scientists whose inventions and discoveries bettered people’s lives and well-being. However, enhancing government controls of markets runs contrary to the spirit of Nobel…..

Contra News & Views

Italy’s Not Fixed And Its Suicidal Unions Demand To Keep It That Way

An estimated one million people poured into the streets of Rome on Saturday to protest Prime Minister Matteo Renzi ’s modest efforts to reform Italy’s notoriously labyrinthine labor laws. Led by the country’s largest union, the Italian General Confederation of Labor, or CGIL, the activists want to preserve Italy’s job guarantees as they are. Call it Italy’s economic suicide movement.