With nominal rates at zero, and core consumer-price inflation at 0.5%, you are still paid to borrow.
Like most professional investors, Mr. Tepper is only concerned with nominal, near-term performance.
Some say that top-line revenue growth has yet to improve, but with nominal GDP lower today than it was a year ago this is not a surprise.
Companies have got away with nominal good behaviour for years.
However, with nominal growth slowing, the global population aging and developed economy governments reluctant to issue large amounts of debt this dynamic will affect larger and more traditionally stable asset markets.
While victims with nominal amounts of gains may escape prosecution due to the cost of litigation, investors with tens or hundreds of thousands of dollars in gains may not be so lucky.
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To start with probably the least important aspect of all this, I am surprised by how little emotion has been sparked by Mr Carney's remarks, that there might be a case for replacing narrow inflation as a target with nominal GDP target, or the cash value of annual economic output.
With surprisingly low inflation, the argument goes, workers were content with low nominal wage increases.
With the nominal exchange rate held down by intervention, this could only come about through a rise in prices, creating expectations of future inflation and so reducing real interest rates.
To this end we invite Greece, private investors and all parties concerned to develop a voluntary bond exchange with a nominal discount of 50% on notional Greek debt held by private investors.
Even if our basic theory is that economy is elastic in response to nominal stress and plastic in response to real stress, a sudden change in rigidity combined with a large nominal shock could cause a very large plastic deformation in the economy.
Morgenson and Rosner would have a point if the housing mania had been endemic to the United States, but with housing in nominal terms having skyrocketed around the world, we must look to currency policy for the answer.
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For Canada, Texas, Iowa and North Dakota, the common denominator they all share is that the economy in each is relatively focused on commodities, and with commodities near nominal all-time highs thanks to a weak dollar, job-creating investment has followed.
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However, this benefit will be fully taxable to taxpayers with high AGI and nominal medical expenses.
The old emir watches from abroad, rich but powerless, after a nominal reconciliation with his son.
The Financial Times reports that the Treasury has cooled on the idea of formally replacing the inflation target with a target for nominal - or cash - GDP.
No analyst would claim that the oil sector's contribution to real growth could be reliably measured using nominal dollars with oil prices rising sharply over the last year.
N'Zogbia joined Newcastle in 2004, with the Magpies paying a nominal sum to Le Havre for their youth team player.
With gold pushing up against nominal all-time highs, Kinross sold 606, 896 ounces of the shiny metal in the second quarter, up 16.8%.
That is, big nominal shocks combined with changes in the strength of contracts and obligations could change the shape of the economy forever.
With core inflation declining and nominal economic growth rates weak in the aftermath of financial crisis, bond yields should trend lower in coming quarters.
There's been more "noise" in recent debates about the Bank of England's policy, with all the talk about nominal income targeting, negative interest rates, and other radical steps.
Argentina is yet another country which has exchanged instability in its nominal economy, with a floating exchange rate, for instability in its real economy with a fixed exchange rate.
Deflation, combined with huge corporate debts and high nominal interest rates, has led to sharp falls in companies' profitability.
With inflation expectations that exceed the nominal interest paid on saving accounts, money market funds, and Treasuries, real returns are negative.
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For example, 6% growth in nominal GDP is consistent with 0% M and 6% V, 5% M and 1% V, 10% M and -4% V, etc.
If the Senate majority party is working as hard as it can to force us to withdraw, then why should our nominal Iraqi allies cooperate with us?
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Curiously, at the same time, economic stress can lead to manipulation of foreign-exchange rates, usually to keep local currencies relatively low even as nominal interest rates rise with inflation.
Bernanke and several of his central bank colleagues around the world have unleashed a new era of monetary policy, marked by zero-bound nominal interest rates coupled with unprecedented and massive balance sheet expansion.
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That means that, even with China allowing only a modest nominal appreciation of the yuan against the dollar, American firms are looking a lot more competitive than they were a few years ago.
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