To understand the impossible situation in which most retirees find themselves, let’s begin with interest rates. When governments raise or lower the cost of credit,
Of all the amazing scenes in The Big Short, a film about the genesis of the Great Recession, arguably the most shocking is the meeting
If you’re managing money and need positive results in the year ahead, you’re in a tough spot. Stocks are at levels that in the past
Global stock (and bond and real estate) markets have been on a tear this year, apparently in anticipation of three big events. And last week
People have been talking about a “debt bubble” for some years now. They’ve been right, of course, based on the combination of surging borrowing and
One of the lessons of the past few decades’ boom/bust cycles is that each financial bubble emerges in a different asset class. In the 1970s
There are trillions of dollars of bonds in the world with negative yields – a fact with which future historians will find baffling. Until now
By now just about everyone understands what junk bonds are and why they matter. But there’s a non-publicly traded version of this kind of debt
Not so long ago, London Telegraph’s Ambrose Evans-Pritchard was one of the handful of must-read financial journalists. He probably still is, but since he disappeared
The era of fiat currencies and central bank printing presses has desensitized us to massive leverage and its implications. So when it is reported, for
When you see that Italy’s debt is rising, the logical question is, who the hell is dumping good money after bad into such an obviously
The key insight of the Austrian School of Economics (maybe the key insight of ALL economics) is that the amount you borrow matters, but so
We Baby Boomers timed it perfectly. We came of age during in an era of plentiful jobs and relatively high wages. Public pensions were generous.
The past few years have seen more than the usual amount of political upheaval. But, interestingly, most regime changes have resulted in pretty much the
There are two ways of looking at the intersection of debt and population. One way says that if debt is rising population should also rise
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