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Greece Enters Its Crack-Up Boom

by John Rubino on July 9, 2015 · 18 comments

The Austrian School of economics has a concept called a “crack-up boom” in which a critical mass of people conclude that their government is actively trying to devalue its currency. Consumers respond by front-running the government, spending their paychecks immediately in order to convert their soon-to-be-less-valuable money into real things. Merchants, not happy about the […]

 

Can You Imagine The Fed Raising Rates In This World?

$1.4 trillion of Chinese stocks have stopped trading. Greece is finally imploding. The US trade deficit is widening on falling exports.Copper just fell back to 2009 levels. And safe-haven capital flows are revving up again, with Swiss 10-year bonds once again trading with negative yields. Yet somehow a majority of economists and money managers continue […]

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Another Fun Monday

Last week began with crosscurrents that made it hard to predict. See On Monday, It’s China Versus Greece. This week is starting with no such ambiguity. The Greeks had their vote and tossed a resounding “NO” at their European creditors. And the markets are not happy: S&P 500 futures fall hard on Greek vote U.S. […]

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