Jerome Powell, the new Fed Chairman, made his debut last week. It was jarring to see a modest, reasonable, straight-talking person in that spot after
So many patterns that have held for decades seem to have broken down, leading to one of two conclusions: Either this time really is different
For a while there it looked like the blow-off top of this expansion was somewhere in the future. Now it’s starting to look like 2017
Dave, the plumber who saves us every six or so months when a leaking pipe, water heater, or toilet threatens to destroy our walls and
The “pension crisis” is one of those things — like electric cars and nuclear fusion — that’s definitely coming but never seems to actually arrive.
Self-destruction usually happens in stages. At first there’s a binge in which the thrill outweighs the sense of transgression. This is usually followed by remorse,
Critics of “New Age” monetary policy have been predicting that central banks would eventually run out of ways to trick people into borrowing money. There
Most Americans have spent the last few years pressed up against the proverbial bakery window, watching the 1% enjoy a life of ever-increasing wealth and
After what seems like a decade in the shadow of tech stocks and cryptocurrencies, gold and silver are rocking again. Which of course leaves everyone
Late cycle behavior is everywhere these days. Governments have stopped worrying about deficits, and now the rest of us are apparently joining the orgy. Corporations,
The yield curve is one of those indicators that most people have heard of but few can explain. In part this is because it’s usually
Financial bubbles are the office Christmas parties of the investment world. They start slowly, with a certain amount of anxiety. But they end wildly, with
The dollar has been falling lately, which isn’t what a lot of people expected with the Fed being the only major central bank that’s raising
One of the crucial things to understand about today’s world is that money is fungible. Whether it’s created in Japan, Europe, China or the US,
The past decade’s historically low interest rates convinced millions of Americans to buy cars they could only afford with hyper-cheap credit. This made auto sales
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