In normal times, today’s combination of record low interest rates and massive infusions of capital into the banking system would ignite the mother of all
It’s been a strange couple of weeks. US stocks are not far from all-time records, both nominally and adjusted for inflation. Home prices are soaring
One of the many, many lessons we should have learned from the 2009 crash is that an economy driven by inherently-unstable – and completely unproductive
It’s safe to say that as this is written at noon EST on Monday the 24th, every economic policymaker in this hemisphere (and a lot
It’s safe to say that the Federal Reserve, along with everyone else who thinks of themselves as in charge of the economy, would like a
There’s a fascinating (and enraging to both sides) argument going on over whether debt really matters. On one side are the Austrian-inspired hard money advocates
Live by the sword, die by the sword. The 1% have spent the past couple of decades accumulating an ever-bigger share of the world’s fiat-currency-inflated
Nicole Foss, who under the pen name Stoneleigh co-edits the Automatic Earth website, just did a long-form interview with an Italian magazine where she lays
As the Greek default (and it is a default no matter what they end up calling it) is finalized this week, the consensus seems to
Over the holidays we tempted fate by booking a multi-stage plane trip … and ended up with cancelled flights, missed connections, and blank-faced airline employees
The people buying bonds issued by Italy and Spain are clearly looking past the dysfunctional balance sheets and focusing on Germany’s reluctance to let a
This week all eyes are on Greece and Italy, which is reasonable since they’re likely to be pretty entertaining. But as incredible as it sounds,
Times are tough… U.S. Consumer Credit Fell $9.5 Billion in August August marked the largest drop in consumer credit in almost a year according to
The English-language media seems to be of one mind on Europe in general and Greece in particular: the system is toast, and a series of
One upon a time, the US was a place where police came when you called, a basic safety net caught those who fell on hard
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