Welcome To The Currency War, Part 23: Europe Will Devalue Or Dissolve
No rest for the wicked. With the shockwaves from Brexit and President Trump still reverberating around the world, the established order is bracing for more
No rest for the wicked. With the shockwaves from Brexit and President Trump still reverberating around the world, the established order is bracing for more
Well that didn’t take long. Two weeks of falling share prices and the European and Japanese central banks caved. First the ECB promised new stimulus
A too-strong currency is, in theory, supposed to make it harder to sell things to cheap-currency countries, thus crimping corporate profits and by implication pretty
Most talk of currency war focuses on the problems caused by countries devaluing their money. This does indeed cause a lot of problems, especially long-term
Here’s one for the “seriously, you’re surprised?” file: China pegs its currency, the yuan, to the dollar, the dollar soars, taking the yuan with it…and
The point of competitive devaluation, aka currency war, is that a cheaper currency gives a country several advantages over its trading partners, leading to better
Europe is an economic basket case while the US is kind-of sort-of recovering. Why? Several reasons, but the only one that really matters these days
This morning the European Central Bank tried something different. As Bloomberg reported: Draghi Takes ECB Deposit Rate Negative in Historic MoveThe European Central Bank cut
For the past couple of years the European Central Bank has been the only sane inmate in the asylum. Unfortunately, in a crazy world being
As it tries to punish Russia for the latter’s dismemberment of Ukraine, the West is discovering that the balance of power isn’t what it used
It’s amazing how quickly China went from being the world’s savior to its biggest danger. To recap: When the developed world stepped off a cliff
Only in a world totally corrupted by easy money could the following two things be announced on the same day. First: European Bonds Surge as
For a while there it looked like Europe was beginning to dig itself out of the pit into which it had fallen after the 2008
For a while there it looked like Japan had the answer. A strong new leader comes in and cuts through all the indecision, orders the
Japan’s currency devaluation has worked beautifully. The yen is plunging, Japanese stocks are soaring, and the current account surplus — the main measure of a
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