It’s the same story pretty much everywhere: Cities and states promised ridiculously generous (by today’s standards) pensions to teachers, cops and firefighters, failed to sufficiently
In that deservedly-famous 2006 CNBC debate between Peter Schiff and economist Arthur Laffer (in which the latter manages to be both arrogant and wrong about
It’s just about official: With corporate sales and profits shrinking and consumer spending flatlining, the US economy will grow hardly at all this year while
Europe is the birthplace of Western civilization and the source of most of the trends and bodies of knowledge that define modernity. The average European
Talk about diminished expectations. This morning’s estimate of 1.4% Q4 GDP growth is being hailed as a pleasant surprise. Which is odd, considering that for
If easy money has stopped working, then what’s left? Massive deficits, of course. Pressure is building on governments around the world to increase spending and
Savers are the obvious victims of the past few years’ plunge in interest rates. But there are other casualties, including money market funds, which have
This morning, US existing home sales plunged and the Chicago Fed’s national activity index turned negative. Both are obvious signs of a slowing economy. Anticipating
The Bank of Japan and European Central Bank eased recently, which is to say they stepped up their bond buying and/or pushed interest rates further
Not so long ago the financial world viewed certain numbers as limits beyond which lay trouble. Interest rates near zero, for instance, were thought to
Anyone who doubts that the global financial system has run out of (good new) ideas has only to track the recent words and deeds of
ECB chair Mario Draghi delivered big-time this morning by announcing lower interest rates and a new round of debt monetization. Historically, this kind of thing
When historians sort out this era of once-a-decade financial bubbles, they’ll marvel at how dissimilar the drivers of each boom were. The junk bonds of
When historians sort out this era of once-a-decade financial bubbles, they’ll marvel at how dissimilar the drivers of each boom were. The junk bonds of
The Bank For International Settlements just released a report stating that the spread of negative interest rates hasn’t caused the world to end. From this
Cut through the clutter and mainstream media noise. Get free, concise dispatches on vital news, videos and opinions. Delivered to Your email inbox daily. You’ll never miss a critical story, guaranteed.