{"id":4698,"date":"2012-06-25T00:36:33","date_gmt":"2012-06-25T04:36:33","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=4698"},"modified":"2012-06-25T00:36:33","modified_gmt":"2012-06-25T04:36:33","slug":"anna-schwartz-monetary-historian","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/25\/anna-schwartz-monetary-historian\/","title":{"rendered":"Anna Schwartz, monetary historian"},"content":{"rendered":"<p>Anna Schwartz died aged 96 last week. Often called the \u201chigh priestess of monetarism&#8221; she co-authored the classic <strong>A Monetary History of the United States, 1867-1960<\/strong> with Milton Friedman in 1963. Mrs. Schwartz joined the National Bureau of Economic Research in New York in 1941 and continued to work there for more than 70 years. She leaves a lasting legacy.<\/p>\n<blockquote><p><em>If you investigate individually the manias that the market has so dubbed over the years, in every case, it was expansive monetary policy that generated the boom in an asset. The particular asset varied from one boom to another. But the basic underlying propagator was too-easy monetary policy and too-low interest rates &#8230;..<\/em><\/p>\n<p>~ Anna Schwartz, as quoted in the <a href=\"http:\/\/online.wsj.com\/article\/SB122428279231046053.html\" title=\"WSJ Online: Anna Schwartz\">Wall Street Journal<\/a>, October 2008.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Anna Schwartz died aged 96 last week. Often called the \u201chigh priestess of monetarism&#8221; she co-authored the classic A Monetary History of the United States, 1867-1960 with Milton Friedman in 1963. Mrs. Schwartz joined the National Bureau of Economic Research in New York in 1941 and continued to work there for more than 70 years. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/25\/anna-schwartz-monetary-historian\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Anna Schwartz, monetary historian&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[203],"class_list":["post-4698","post","type-post","status-publish","format-standard","hentry","category-economy","tag-anna-schwartz"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Anna Schwartz, monetary historian - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Anna Schwartz, monetary historian - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Anna Schwartz died aged 96 last week. Often called the \u201chigh priestess of monetarism&#8221; she co-authored the classic A Monetary History of the United States, 1867-1960 with Milton Friedman in 1963. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.\",\"sameAs\":[\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\",\"https:\/\/www.instagram.com\/colin_thepatientinvestor\",\"https:\/\/au.linkedin.com\/in\/colintwiggs\"],\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Anna Schwartz, monetary historian - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Anna Schwartz, monetary historian - the patient investor","og_description":"Anna Schwartz died aged 96 last week. Often called the \u201chigh priestess of monetarism&#8221; she co-authored the classic A Monetary History of the United States, 1867-1960 with Milton Friedman in 1963. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1dM","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":8581,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/10\/09\/household-debt-to-income-ratio\/","url_meta":{"origin":4698,"position":0},"title":"Household Debt to Income ratio","author":"ColinTwiggs","date":"October 9, 2013","format":false,"excerpt":"Barry Ritholz highlights the alarming debt to income ratio for Canada compared to the USA: How does Australia compare? Australian household debt to income is similar to Canada's. There has been discussion recently about whether Australia is in a housing bubble. As Anna Schwartz (joint author of A Monetary History\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13713,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/11\/06\/is-the-market-in-a-bubble\/","url_meta":{"origin":4698,"position":1},"title":"Is the market in a bubble?","author":"ColinTwiggs","date":"November 6, 2013","format":false,"excerpt":"As global growth recovers we expect equity markets to be buoyed by improvements in both earnings and dividends, with strong momentum over the quarter. There is much discussion in the media as to whether various markets are in a \"bubble\". Little attention is devoted to the fact that bubbles can\u2026","rel":"","context":"In &quot;Market Insights&quot;","block_context":{"text":"Market Insights","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/market-insights\/"},"img":{"alt_text":"US Household Debt","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-11-18-us-excsresns.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-11-18-us-excsresns.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-11-18-us-excsresns.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":14099,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/12\/economic-research-bubbles-credit-and-their-consequences\/","url_meta":{"origin":4698,"position":2},"title":"Credit bubbles and their consequences","author":"ColinTwiggs","date":"September 12, 2016","format":false,"excerpt":"Interesting paper from the San Francisco Fed by \u00d2scar Jord\u00e0, VP Economic Research at the San Francisco Fed, Moritz Schularick, professor of economics at the University of Bonn, and Alan M. Taylor, professor of economics and finance at the University of California, Davis. They discuss the difficulty in identifying asset\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23187,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/12\/12\/a-stock-market-bubble-of-epic-proportions\/","url_meta":{"origin":4698,"position":3},"title":"A stock market bubble of epic proportions","author":"Colin Twiggs","date":"December 12, 2020","format":false,"excerpt":"A great deal has been written in recent years about real estate bubbles, stock market bubbles and even bond market bubbles. But there is really only one kind of bubble \u2014 that is a debt bubble. Without low interest rates fueling rapid debt growth, any form of bubble would wither\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8780,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/11\/22\/sp-500-momentum-and-economic-outlook\/","url_meta":{"origin":4698,"position":4},"title":"S&#038;P 500 Momentum and Economic Outlook","author":"ColinTwiggs","date":"November 22, 2013","format":false,"excerpt":"This an example of the monthly updates from the new Research & Investment joint venture between Incredible Charts and Porter Capital. S&P 500 Momentum \u2013 October 2013 Latest Performance S&P 500 Momentum is based on Porter Capital's successful ASX200 Prime Momentum strategy which returned +38.43% for the 12 months ended\u2026","rel":"","context":"In &quot;Momentum Trades&quot;","block_context":{"text":"Momentum Trades","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/investing\/momentum-investing-2\/momentum-trades\/"},"img":{"alt_text":"GILD","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-11-09-nflx-us.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-11-09-nflx-us.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-11-09-nflx-us.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":2549,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/06\/asset-prices-financial-and-monetary-stability\/","url_meta":{"origin":4698,"position":5},"title":"Asset prices, financial and monetary stability","author":"ColinTwiggs","date":"December 6, 2011","format":false,"excerpt":"If financial imbalances can build up in an environment of low inflation it stands to reason that a monetary policy reaction function that does not respond to these imbalances when they occur can unwittingly accommodate an unsustainable and disruptive boom in the real economy. The result need not take the\u2026","rel":"","context":"In &quot;Debt Levels&quot;","block_context":{"text":"Debt Levels","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/debt-levels\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=4698"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4698\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=4698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=4698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=4698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}