Chapter 6: America, Won and Lost.
After the United States gained its independence from Britain, it became powerful in the world in two very different ways: as an idea,…
Read MoreEconomic Cycles
Capital Flows – is a reckoning nigh?
Borrowing in Euros continues to rise even as the rate of US borrowing slows The BIS has identified an Expansionary Lower Bound for…
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Central bank balance sheet reductions – will anyone follow the Fed?
The next wave of QE will be different, credit spreads will be controlled The Federal Reserve may continue to tighten but few other…
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Sustainable government debt – an old idea refreshed
New research from the Peterson Institute suggests bond yields may fall once more Demographic forces and unfunded state liabilities point to an inevitable…
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Outrageous fortune
“Isn’t it funny when you walk into an investment firm and you see all of the financial advisers watching CNBC ? That gives me…
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Why monetary easing will fail
The major economies have slowed suddenly in the last two or three months, prompting a change of tack in the monetary policies of central…
Read MoreChapter 2: Laws That Make Robbery Legal.
A law can be anything from an attempt to establish justice on earth to a device for robbery and murder.[1] Nazi race law…
Read MoreThe Dangers of Negative Interest Rates and a Cashless Economy
The recent gyrations in the stock market and the uncertainties surrounding American trade policies with China and other parts of the world have raised…
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The Arrival Of The Credit Crisis
Those of us who closely follow the credit cycle should not be surprised by the current slide in equity markets. It was going to…
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My speech in the European Parliament on the coming economic collapse
Zero percent interest rates have created the largest bubble in human history, when it bursts it will be worse than 1929.
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