David Stockman: Crisis Is Us – The Inexorable Result Of Modern Central Banking
The inexorable effect of contemporary central banking is serial financial booms and busts. With that comes increasing levels of systemic financial instability and a…
Benn Steil: What If Japan Becomes Treasury’s First Currency ‘Manipulator’ in 22 Years?
In May, Japanese Finance Minister Taro Aso and colleagues warned of their willingness to intervene in currency markets to counteract upward pressure on the…
Head of the Snake – The Poisonous Gap Between Paper Wealth and Real Wealth
By John P. Hussman, Ph.D. “Understand that securities are not net economic wealth. They are a claim of one party in the economy – by…
Off Target
Money, generally accepted medium of exchange, acts as a veil that confuse and blurs economic relations. This is especially true when it comes to…
Durable Goods Add To The Idea of Depression (Small ‘d’)
There wasn’t anything new or surprising in the advance durable goods report. Shipments (ex transportation) were flat and orders were up 1% year-over-year (NSA)….
Bawerk.net: China’s Lender of Last Resort Conundrum
It took a while to play through, but our assessment that China would increasingly become the petro-state lender of last resort is starting to come…
Zero Hedge: US Negative Interest Rate Bets Surge To Record Highs
As the “deflationary supernova” sweeps across the world, dragging bond yields to zero-and-beyond, even the almighty omniscent Federal Reserve has been forced to capitulate…
Rationalizing ‘Rational’
Walter W. Heller was said to have been an “educator of Presidents.” As an economist and Presidential advisor in the inner circles of DC,…
bawerk.net: Tough Choices: Peg or Banking Crisis?
During the reign of the mighty petro-dollar standard, it was necessary for major oil exporters to recycle their dollar holdings back into the dollar-based…
Central Bankers Claim: Things Are Better than You Think
In our time, the greatest source of money chaos is now the global 2%-inflation standard. Deflation-phobic central bankers, led by the FOMC at the…