A few years ago the Swiss National Bank (SNB) – which traditionally held “monetary assets” like government bonds, cash and gold to back up the
A quick recap of the past couple of months: Stocks plunge. The politicians, bureaucrats and bankers who depend on artificially-elevated financial asset prices start to
Based the last few days’ headlines you’d never know the world is in year 10 of a pretty good expansion. Check this out: Not terrified
First developing countries blew up. Then real estate topped and started to roll over. Now oil has entered what CNBC just called its “longest losing
As contentious as the US midterm elections were, there was never a scenario in which they mattered. Any possible configuration of Republicans and Democrats in
For the past few years, homeowners just about everywhere have been able to finesse life’s problems by thinking “at least my house is going up.”
Towards the end of economic expansions, interest rates usually start to rise as strong loan demand bumps up against central bank tightening. At first the
“How did you go bankrupt?” “Two ways. Gradually, then suddenly.” ― Ernest Hemingway, The Sun Also Rises On the surface, nothing much changed last week.
This morning’s jobs report was stronger than expected, which – combined with Amazon’s dramatic increase in its minimum wage to $15/hr — implies rising wages
When Italy elected a bunch of rowdy populists back in March, the rest of the eurozone assumed (or at least hoped) that the weight of
It’s long been an article of faith in the sound money community that the Fed, by bailing out every dysfunctional financial entity in sight, would
This is the last emerging market crisis story for a while, promise. But one angle – exactly how a plunging currency in a far-off place
Emerging market chaos is now front page news. Let’s start with Argentina, where the peso has resumed its plunge: In response: Argentina Central Bank hikes
Just a few months ago, real estate was on fire. Prices were blowing past records set during the previous decade’s housing bubble as desperate buyers
Okay, one more look at wage inflation, followed by a short diatribe on the unfairness of life. As the labor markets get tighter, power is
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