Greece Enters Its Crack-Up Boom
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
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
Though it might yet drag on for weeks, months or even years, Greece’s drama can end in one of only two ways: Continued austerity which
The dollar soars by a record amount versus the euro and the yen in 2014. And economists predict strong growth in 2015. Really? If a
When a country pegs its currency to a bigger one like the US dollar, it in effect outsources its monetary policy to the operator of
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
David Stockman just published a chart so compelling that he didn’t feel the need to add any commentary. But there are a few things to
As the saying goes, you can know a person by the quality of his or her enemies. This is also true of societies, where moral
Government statistics are always suspect, for at least one obvious reason: Modern economies are way too big and complex to measure in real-time. So virtually
One of the defining traits of financial bubbles is the willingness of traders and investors to interpret pretty much everything as a buy signal. Rising
In a fiat currency system, perception is, by definition, everything. Paper money has no intrinsic value. So the people saving it and accepting it in
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
One of the oddities of floating exchange rates is that they cause people to view the world in terms of their own national currency. For
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
The way markets usually work is that on any given day (or in any given year) some asset classes are up while others are down.
The premise of a currency war is that by devaluing its currency a country is able to sell things overseas more cheaply, which gooses its
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.