Greece’s referendum
byThis coming Sunday Greece will hold its referendum. The question to be asked is not, as the foreign press initially reported it, about leaving…
The euro crisis
byMake no mistake; the Greek crisis is a euro crisis that threatens the solvency of the ECB itself, and therefore confidence in the currency….
Jim Grant Explains “Our” 3 Biggest Financial Mistakes
byThis piece first appeared at Zero Hedge http://www.zerohedge.com/news/2015-06-27/jim-grant-explains-our-3-biggest-financial-mistakes Submitted by Michael Ide via Valuewalk.com, Speaking at Russell Napier’s Library of Mistakes in Edinburgh earlier this…
The US natural unemployment rate and the Fed’s interest rate policy
byIn May the US unemployment rate stood at 5.5% against the rate of 5.3% for the natural unemployment also known as the Non-Accelerating Inflation…
Interest – Inflation = #REF
byI have to admit that I derive some pleasure in taking on hoary old myths. For example, some economists assert that the interest rate…
Managing trade deficits
byCurrency devaluation is seen by nearly every macro-economist to be the cure for trade deficits. Recently they have recommended it to Greece, arguing for…
Money supply and velocity
byMainstream view of what velocity is According to popular thinking the idea of velocity is straightforward. It is held that over any interval of…
The only thing we have to fear..
by“Let me be clear on one point: I can’t predict the short-term movements of the stock market. I haven’t the faintest idea as to…
Bonds and banks
byThis year has seen some big losses develop in the bond markets, though prices have stabilised in recent days. The chart above is of…
They’re Coming to Take Away Your Cash
byThe stories are all over the Internet. Governments are forcing us into a cashless society. Supposedly the pretext is terrorism, and the real reason…