The ECB Is Playing a Dangerous Game with “Collective Action Clauses” on Bonds
There is a clause to European bond sales called a collective action clause. In fact, “all bonds issued by Eurozone member states with maturities…
Deflation: Friend or Foe?
by Luis Pablo de la Horra Deflation is the most feared economic phenomenon of our time. The reason behind this a priori irrational fear (why should…
Low Rates and Limited Liability Mean Hot Markets
What clear-eyed mortgage underwriter would sign on to a thirty-year loan at less than 3 percent? After all, in Las Vegas, for instance, the unemployment…
The Upside of Lockdowns: More Saving
Something good is coming out of the covid lockdowns. Economist David Rosenberg released a special report via the eponymous Rosenberg Research, concluding “the pre-COVID-19…
Why Mainstream Economic Forecasts Are So Often Wrong
By Daniel Lacalle Every end of the year, by the end of the year, we receive numerous estimates of global GDP growth and inflation…
There Is No Chinese Economic Miracle
The year 2020 will be an extremely tough year for the European economy. Added to an unprecedented drop is a strong impact in the fourth…
Japan’s innovation struggle
By Urs Schoettli Recently the English language daily The Japan Times carried the headline “Kono declares war on the fax machine.” In the recent reshuffle of…
The Fed’s Balance Sheet May Be Headed to $40–$50 Trillion
President Trump has said often that he had “created the greatest economy the world has ever seen, until the China virus came.” Maybe some…
92 Percent of Trump’s China Tariff Proceeds Has Gone to Bail Out Angry Farmers
by Benn Steil, Author and Benjamin Della Rocca, Author “China” is “paying billions and billions of dollars” on U.S. tariffs, President Trump said in his debate with Joe…
The future of free trade
By Tatiana L. Palermo The United States was never truly fond of free trade agreements (FTAs). Since 1984, the U.S. has signed FTAs with only 20…