Are Cars About to Crash?
New car sales have been one of the bright spots of the US recovery. And they’re still at it: September U.S. auto sales to rise
New car sales have been one of the bright spots of the US recovery. And they’re still at it: September U.S. auto sales to rise
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
One of the frustrating things about the monthly US jobs report is the way everyone focuses on the wrong number. The headline says “unemployment falls…”
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
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
A perfect sign of the times is the unexpected success of a 700-page economics text called Capital in the 21st Century by French college professor
It’s not easy being a mainstream economist. You spend your life building models that become your professional identity. And when those models fail to describe
To Westerners, China has always been a mystery. The huge population of very smart, hard-working people. The succession of unfamiliar, authoritarian governments. The sense that
One of the reasons the rich countries’ excessive money creation hasn’t ignited a generalized inflation is that today’s global economy is, well, global. When the
2013 was a year in which lots of imbalances built up but none blew up. The US and Japan continued to monetize their debt, in
Since at least the 1980s, US policy has been to convince us to borrow as much as possible on pretty much anything we could think
I have a theory about technical indicators, which is that most people only pay attention to the ones that confirm what they already think. Technicals
Prudent Bear’s Doug Noland marks the fifth anniversary of the collapse of Lehman Brothers — and the near-collapse of the global financial system — by
If history could talk, the first thing it would say is, “Enjoy the tranquil stretches because they’re always temporary.” The past few years were, in
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