Benn Steil: Portugal Gaining on Italy in the Banking ‘Doom Loop’
Italian banks have taken a pounding of late from the ECB, the markets, and the media. They currently hold a whopping €360 billion in…
The Warren Buffet Economy: How Central Bank Enabled Financialization Divided America
By David Stockman During the 29 years after Alan Greenspan became Fed chairman in August 1987, the balance sheet of the Fed exploded from $200…
The FOMC Butterfly that Will Ruin the World
From Bawerk.net Source: http://bawerk.net/2016/07/29/the-fomc-butterfly-that-will-ruin-the-world/ Imagine the financial crisis knocked you out and you did not wake up from the coma that followed until this day. Then,…
The Central Planning Virus Mutates
By Pater Tenebrarum Chopper Pilot Descends on Nippon Readers are probably aware of recent events in Japan, the global laboratory for interventionist experiments. The theories…
Valuation Fallacies
By Jeffrey P. Snider Everyone knows about lies, damned lies, and statistics. The quote has been attached to Mark Twain who apparently attributed to…
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)….