The world’s elites, because they live in a system created by themselves for themselves, tend to see events like Brexit and President Trump as aberrations
At first, the idea of central banks intervening in the equity markets was probably seen even by its fans as a temporary measure. But that’s
A week ago it looked like the US government was destined to end up firmly – maybe even more firmly — in the hands of
In June the UK shocked the world – or at least the world’s elites – by voting to pull out of the European Union. Economists
Cyclical turning points tend to feature large numbers of people doing and saying what in retrospect turn out to be amazingly dumb things. Think GM
It’s now clear that what governments did to counter the Great Recession may have delayed systemic collapse, but did not resurrect the old normal. Growth
Towards the end of a credit bubble, ideas that might have seemed crazy in more boring times are not just accepted but embraced by investors
This year’s recovery in precious metals prices – and the sudden spike in gold/silver mining stocks – convinced a lot of people that a new
You read that right. Not only is Italy selling 50-year bonds, but people are lining up buy them. Italy’s first 50-year bond sale had huge
Deutsche Bank, Commerzbank, the Italian banks…it’s getting ugly across the pond, and the worst is yet to come. Here’s a brief look at the reasons
These are great times for financial assets — and by implication for finance companies that make and sell them, right? Alas, no. Just the opposite.
One of the jarring things about visiting less-well-off countries is the seemingly inexhaustible supply of girls and boys available for anyone with hard currency. These
The most obvious difference between “rich” and “poor” countries is that the former provide health care for most or all of their lucky citizens. At
One of the big surprises of the past few years is the number of brand-name hedge funds reporting terrible results. Their customers are not amused:
In normal times, some asset classes are expensive others are cheap, making it easy to use historical relationships to decide where to invest. That’s not
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