The Only Thing Growing Is Debt
The past few days have seen another batch of blah economic reports in the US: Weak U.S. retail sales hint at slower economic growth (Reuters)
The past few days have seen another batch of blah economic reports in the US: Weak U.S. retail sales hint at slower economic growth (Reuters)
The homebuilders are happy. US retail sales are up. Even France is “turning the corner.” And now the Atlanta Fed, which has lately been both
Let’s see…a heavily-indebted country can’t pay its bills, engages in a long series of failed attempts to manage a partial, controlled default, sees most of
Intel is buying chip maker Altera. Charter is buying Time Warner Cable. All the big drug makers are buying all the mediums-sized ones. Great news,
A recent Goldman Sachs report explains where this year’s stock market profits (should there be any) will come from: Buybacks and Dividends All That’s Left
When a country pegs its currency to a bigger one like the US dollar, it in effect outsources its monetary policy to the operator of
David Stockman just published a chart so compelling that he didn’t feel the need to add any commentary. But there are a few things to
In a fiat currency system, perception is, by definition, everything. Paper money has no intrinsic value. So the people saving it and accepting it in
Here’s one for the “seriously, you’re surprised?” file: China pegs its currency, the yuan, to the dollar, the dollar soars, taking the yuan with it…and
Another day, another “unexpectedly” bad economic report. Lately it seems like a lot of what US government statisticians say comes as an unpleasant surprise for
The point of competitive devaluation, aka currency war, is that a cheaper currency gives a country several advantages over its trading partners, leading to better
The way markets usually work is that on any given day (or in any given year) some asset classes are up while others are down.
The premise of a currency war is that by devaluing its currency a country is able to sell things overseas more cheaply, which gooses its
The term gets tossed around a lot, but the meaning and consequences of a “currency war” aren’t intuitively clear to most people. Especially confusing is
In the sound-money community there is universal skepticism about the Fed’s plan to stop monetizing the world’s debt. Hardly anyone thinks they’ll go through with
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