The world's economic myths, especially…
The UK Treasury could earn…
Chinese FX outflows, often underreported…
I spent an evening with Lester Brown, president of the Earth Policy Institute and a winner of the coveted MacArthur Prize, for some long term thinking about the environment and…
I wrote last month that several economic indicators seemed to be turning positive. I may have spoken too soon. The last two weeks a number of key stats have…
A chart of exponential growth/depletion may be the "chart of the century." The chart displays two lines: the blue line traces out exponential growth (for example, in demand for oil,…
Below are two self-explanatory charts which shed light on the current rallies in the stock market and oil. The first is a long-term snapshot of the Dow Jones Industrial Average,…
That's the big take-away from today's report from the Bureau of Economic Analysis that the seasonally adjusted real value of the nation's production of goods and services grew at…
Sometimes the briefest bits of information are the most critical. The Bank of Japan today put out its usual one-page summary for the April meeting of its Policy Board. The…
There are two views on the economy and stock markets. The first (and most widely-held) is that these are "responsive systems". Prices for homes, stocks and labour react to events…
What happened to housing and financial markets over the last decade? To find out, follow the money. According to Yale Professor Robert Shiller's data, the run-up and collapse of U.S.…
As if Greece did not already have enough problems. The market was already jolted by the Goldman SEC case. Then, it was the cloud of volcanic ash from Iceland postponed…
The Central State and Financial Plutocracy are bound in a mutually beneficial, highly predatory partnership. The Mainstream Media is missing the Big Story in the SEC/Goldman Sachs filing: the Central…
Olivier Blanchard, chief economist at the International Monetary Fund (IMF), talks with Bloomberg this morning about the prospects for an asset bubble in China. Blanchard, speaking from Washington, also discusses…
Metals investors globally were cheered this week by good news from Aluminum Corp. of China (A.K.A. Chalco). The aluminum giant swung back into profitability for the first time in a…
The status quo not just incentivizes gaming the system, it has made it the primary way to get ahead in today's economy. Gaming the system is not just encouraged--it has…
Currency, like all forms of abstract value, is based on trust. And trust itself is based - except among the most naïve - on experience, and the repetitive demonstration of…
Over the last few days I’ve noticed one significant thing. Creeping yields on U.S. commercial paper. Prior to the financial crisis in 2008, rising yields on commercial paper were one…
Shoddy construction throughout the world, but especially in China and the U.S., is a type of mal-investment, and it will have consequences. Everybody seems to know about China's real estate…
I thought I was seeing things yesterday. The Federal Reserve released its weekly numbers on U.S. bank lending. And it looked like there had been some kind of mistake. Outstanding…
Despite the year-long equities rally and the euphoric mood of speculators and government officials, maybe the best trade of the next 5 years will be short-term U.S. Treasuries. Stocks provide…
Government debt in Greece is just the first in a series of European debt bombs that are set to explode. The mortgage debts in post-Soviet economies and Iceland are more…
Four key factors in the 1970s were very different from present conditions, and that argues against 1970s-style stagflation as a model for 2010-2020. Sometimes history rhymes--but only for the first…