New Articles by Henry C.K. Liu

Letting Reason Break the Gold Fever


Too Big To Fail Versus Moral Hazard Revisited
Too-Big-To-Fail and the Theory of Large Numbers Revisited
How Hedge Funds Squeezed JPMorgan
Dimon's Gambit

The EUROPEAN SOVEREIGN DEBT CRISIS
Part V: EU Treaty Reform
Part IV: Need for an Orderly Withdrawal Mechanism from the Euro and the Eurozone
Part III: Supranational Globalization vs Nation State Sovereignty
Part II: The Role of the IMF/ECB/EC Troika
Part I: A Currency Union Not Backed by Political Union

DEVELOPMENT THROUGH WAGE-LED GROWTH
Part XIII: The Failed Revolutions of 1848 - The Political Background
Part XII: The Failed Revolutions of 1848 - The Economic Background

Part XI: Critical Theory
Part X: The Rise and Decline of Institutional Economics
Part IX: International Gold Agreements - Historical Political Context
Part VIII: Gold and Fiat Currencies
Part VII: Weak Political Response to Ineffective Financial Regulation
Part VI: The London Gold Market

Part V: Central Banks and Gold Liquidity
Part IV: Central Banks and Gold
Part III: Labor Markets de-linked from the Gold Market
Part II: Gold Keeps Rising as Other Commodities Fall
Part I: Stagnant Worker Wage Income Leads to Overcapacity

The Dispute Over What Constitutes Sound Fiscal Policy

A Baroque Farce at New Deal 2.0

The End of the Business Cycle?

The Fighting Deficit Twins

GLOBAL POST
-
CRISIS ECONOMIC OUTLOOK
Part XII: Financial Globalization and Recurring Financial Crises
P
art XI: Comparing Eurozone Membership to Dollarization of Argentina
Part X: The Trillion Dollar Failure

Part IX: Effect of the Greek Crisis on German Domestic Politics

Part VIII: Greek Tragedy
Part VII: Global Sovereign Debt Crisis

Part VI: Public Debt and Other Issues
Part V: Public Debt, Fiscal Deficit and Sovereign Insolvency
Part IV: Fed’s Extraordinary Section 13(3) Programs
Part III: The Fed’s No-Exit Strategy

Part II: Two Different Banking Crises - 1929 and 2007

Part I: Crisis of Wealth Destrution

Keynes and Hayek

A New Volcker Rule for the Wayward US Financial Sector

Economist Stiglitz Condemns Moral Deprivation in Ersatz Capitalism

The New Millenium

China and a New World Economic Order

Why China must buy US Treasuries with her Trade Surplus Dollars

Krugman Blaming the Victim for the Crime

How Supply Side Economics of a Low Tax Regime Pushes Down Wages


The Repo Time Bomb Redux

OTC DERIVATIVE MARKET REFORM
Part I: The Folly of Deregulation
Part II: The Courageous Brooksley Born

The Need to Regulate Cross-Border Flow of Speculative Funds

Too-Big-To-Fail and the Theory of Large Numbers


THE SOCIALIST REVOLUTION STARTED 90 YEARS AGO IN CHINA
Part I: The Beginning
Part II: Lessons of Other Revolutions
Part III:
Lessons of the Soviet Experience

Part IV: The Situation in China
Part V: Economic Surplus and Capital Formation

Lesson Unlearned

FEDERAL RESERVE POWER UNSUPPORTED BY CREDIBILITY
Part I: No Exit
Part II: Facing a Lost Decade
Part III: The Politics of Financial Crisis

MONEY AND COMMODITY MARKETS
Part I: Money Markets - Integrity Deficit has its Pr
ice

The American productivity myth

 

Confidence in the Dollar

Greenspan Characterized Regulatory Arbitrage as Desirable

The Fed Created Serial Bubbles by Policy

Tip-toe Regulatory Reform


G2 and SCO

Mark-to-Market vs Mark-to-Model

Financial Profit Inflation from Price Deflation

Stress Tests for Banks

Central Banking Practices Monetarism at the Expense of the Economy

B
IS vs National Banks

Brzezinski’s G2 Grand Strategy

G20 Summit Missed the Real Target


OBAMA'S POLITCS OF CHNAGE AND US POLICY ON CHINA
Part I: The Song Stays the Same

Part II: US Domestic Politics and China Policy
Part: III: The New Deal Dollar and the Obama Dollar
Part IV:
Brzezinski’s G2 Grand Strategy
Part V: G2 and SCO

The Global Economy in Transition

THE FOLLY OF INTERVENTION
Part I: The Zero Interest Rate Trap
Part II: No Exit for Emergency Naionalization

2009 – THE YEAR MONETARISM ENTERS BANKRUPTCY
Part I: Bankrupt Monetarism
Part II: Central Banking Practices Monetarism at the Expense of the Economy
Part III: Stress Tests for Banks

Saving the Chinese Economy from the Global Financial Crisis

Specific Measures to Restore China's National Destiny

China and the Global Financial Crisis

Open Letter to World Leaders

Massive Pension Fund Crisis in the US

FROM FREE MARKET FUNDAMENTALISM TO STATE CAPITALISM
Part II: Treasury’s “Troubled Assets Relief Program” in Trouble
Part I: US Government Pours Oil on Fire
 
Too Big To Fail Versus Moral Hazard

Milton Friedman and the Money Matters Controversy


Failure of Central Banking leads to Debt Capitalism Self Destruction

Rising Oil Prices and the Falling Dollar

The Fed and the Strong Dollar Policy

THE SHAPE OF US POPULISM
Part VI: The Birth of the New Deal
Part V:The Great Depression, the New Deal and the 2007 Credit Crisis
Part IV: A Panick-Striken Federal Reserve

Part III: The Progressive Era
Part II: Long-term Effects of the Civil War
Part I: Legacy of Free Market Capitalism

Financing the Hong Kong-Macau-Zhuhai Bridge: The Public Authority Opton

ROAD TO HYPERINFLATION WITH MARKET ACCOMMODATING MONETARY POLICY
Part I: A Crisis the Fed Helped to Create but Helpless to Cure

Part II: Central Banking History of Failing to Stabilize Markets
Part III: Inflation Targeting

Hong Kong Election and Sovereign Democracy


PATHOLOGY OF DEBT
Part I: Commercial Paper Market Seizure turns Banks into their own Vulture Investors
Part II: The Commercial Paper Market and Special Investment Vehicles
Part III: The Credit Guns of August heard around the world
Part IV: Lessons Unlearned
Part V: Off-Balance-Sheet Debt



SUPER CAPITALISM, SUPER IMPERIALISM AND MONETARY IMPERIALISM
Part I: A Structural Link
Part II: Deregulation: Global War on Labor

Unemployment and Credit Crisis

LIQUIDITY BUST BYPASSES THE BANKING SYSTEM
Part I: The Rise of the Non-bank Financial system
Part II: Bank Deregulation Fuels Credit Abuse

Creative Accounting and Destructive Debt

Central Bank Impotence and Market Liquidity


THE REAL INTEREST RATE CONUNDRUM
Part I: The Real Interest Rate Conundrum
Part II:
Currency Devaluation Depresses Wages Globally


A Mute Strategic Economic Dialogue

Liquidity Boom Decouples US Equity Markets from the US Economy


CHINA AND APPEASEMENT
Part III: China’s Misguided Experts on the US
Part II: China's Appeasement Faction
Part I: Beyond Munich - Geostrategy and Betrayal

Why the US Subprime Mortgage Bust Will Spread to the Global Finance System

US as Leading Currency Manipulator

Paulson and China

CUT AND RUN

Part III: The Situation in Iran
Part II: Looking to Syria and Iran for Help
Part I: Fleeing from Self Destruction is Common Sense


Regime Change Blowback

Untested Management Team for the US Economy

Recent Articles
CURRENT US-CHINA RELATIONS
Part I: A Lame Duck-Greenhorn Dance
Part II: US Unilateralism
Part III: Geopolitical Dynamics of the Korea Proliferation Crisis

 
Part IV:
More Geopolitical Dynamics of the Korea Proliferation Crisis
Part V:
Kim Il Sung and China
Part VI: Korea under Park Chung Hee
Part VII: Clinton Policy on North Korea - A Belated Path to Peace
Part VIII:
GW Bush Policy on North Korea – a Path to War
Part IX: The North Korean Perspective
Part X: South Korea's Changing Position
Part XI: Japanese Strategy to become a “Beautiful Nation”


WAGES OF NEOLIBERALISM
Part I: Core Contradictions
Part II: The US-China Trade Imbalance
Part III: China's Internal Debt Problem
Part IV: Development Financing and Urbanization


WORLD TRADE NEEDS A GLOBAL LABOR CARTEL (OLEC)
Part I:  Background and Theory
Part II: Rising Wages Solve All Problems


GREENSPAN - WIZARD OF BUBBLELAND

Part I: Greenspan - Wizard of Bubbleland

Global Trade Imbalance and Deflation

Liberating Sovereign Credit for Domestic Development

Superpower Vulnerability

The Hong Kong Democracy Controversy


Past Articles

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Henry C.K. Liu

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