Like any other weak-willed entity, an over-indebted country eventually finds that formerly-easy things get harder to do. Today, for instance, banks are having trouble attracting
Most people learn by the age of 10 or so that making promises is easier than keeping them. That’s why really big promises like corporate
For the average person trying to decide how to feel about the economy, the single biggest data point is the stock market. When share prices
It is by now generally understood, at least in the sound money community, that inflation is much higher than the government admits and that the
As incomes stagnate and prices rise, a growing number of Americans face a tough choice: either descend a couple of rungs on the lifestyle ladder
Today the US took its next-to-last stab at calculating First Quarter GDP, and the downward revision was impressive even by recent standards. It now appears
In one sense, energy doesn’t matter all that much to what’s coming. Once debt reaches a certain level, oil can be $10 a barrel or
For all those analysts (including this one) who thought the debt binge of the previous decade marked end of the Age of Leverage, well, not
This morning the European Central Bank tried something different. As Bloomberg reported: Draghi Takes ECB Deposit Rate Negative in Historic MoveThe European Central Bank cut
As expected, the US revised the most recent quarter’s GDP from barely positive to sharply negative today. But once again the true extent of the
Ah, the Italians. They’re good for at least one entry in the “Why We’re Ungovernable” series each year, and their latest is the best yet:
From Chapter 15 of The Money Bubble, by James Turk and John Rubino: Banking didn’t start out as a reckless, parasitical plaything of a moneyed
One would think that great health coverage would be a basic perk of working for an insurance company, but those days are apparently over. Investment
Reporters and their editors (and the corporations that employ them) have the power to shape readers’ perceptions by, for instance, choosing what fact to put
This morning’s housing report was huge. As one representative headline put it: “Housing starts up sharply; permits highest since 2008”. Dig just a little deeper
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