The Variable-Rate World Stares Into The Abyss – Again
Back in 2013 interest rates in the US and elsewhere started to rise, and the results were scary to put it mildly. Here’s an excerpt
Back in 2013 interest rates in the US and elsewhere started to rise, and the results were scary to put it mildly. Here’s an excerpt
Good headlines just keep coming. The Chicago PMI index of Midwest economic activity jumps to its highest level in two years. The ADP employment report
No rest for the wicked. With the shockwaves from Brexit and President Trump still reverberating around the world, the established order is bracing for more
Some pretty good economic reports have energized various parts of the financial markets lately. Consumer spending is up, GDP is exceeding expectations and even factory
At first, the idea of central banks intervening in the equity markets was probably seen even by its fans as a temporary measure. But that’s
It’s now clear that what governments did to counter the Great Recession may have delayed systemic collapse, but did not resurrect the old normal. Growth
These are great times for financial assets — and by implication for finance companies that make and sell them, right? Alas, no. Just the opposite.
One of the big surprises of the past few years is the number of brand-name hedge funds reporting terrible results. Their customers are not amused:
In normal times, some asset classes are expensive others are cheap, making it easy to use historical relationships to decide where to invest. That’s not
Two short months ago it was generally expected that US interest rates would rise for the balance of the year — a move made possible
Pretend, for a minute, that your country responds to the bursting of a credit bubble by borrowing unprecedented amounts of money and using it to
The theory was pretty straightforward: push interest rates down far enough — in some cases to negative territory where borrowers actually turn a profit on
It’s unclear what China was thinking when it was borrowed all those trillions to quadruple its capacity to make steel, cement and other basic industrial
For the past 50 or so years, the quickest way for a sharp young sociopath to get rich has been to join an investment bank
Goldman, Morgan Stanley and IBM release numbers that look, well, depression-like. Housing starts plunge, gold and silver spike, China’s bond market seizes up, and Deutsche
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