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
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
It appears that Great Britain might actually do the until-recently-unthinkable, and leave the European Union. The reasons for this dramatic break-up are many, and can
So far, each financial crisis in the series that began with the junk bond bubble of 1989 has been noticeably different from its predecessors. New
Once upon a time, falling interest rates were great for banks. A lower cost of capital gave lenders access to cheap raw material while causing
Another Monday, another set of “surprisingly” bad economic numbers. A few representative headlines: China manufacturing prices decline for 18th straight month Oil prices fall 5%
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
If 2015 was a year Brazil would like to forget, 2016 is doing its best to make that happen. But, alas, not in the way
One by one the pillars of the recovery are toppling. Last year the Chinese infrastructure party ended and the shale oil boom went bust. More
Republican party insiders expected The Donald to have his 15 minutes and then, when the reality of what President Trump might mean sinks in, lose
A few years ago, economist Nouriel Roubini was explaining to a reporter why Chinese economic data couldn’t be trusted. He noted that it takes the
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