The UK economy is primed…
The world's economic myths, especially…
Something profound has happened, obscured by all the concerns about economic details and speculation about whether we are in a “deep recession” or a “depression,” a “nascent recovery” or a…
The most troubling aspect of the West’s current policy turmoil is not the European meltdown led by Greece and Spain. It is instead President Barack Obama’s unflinching insistence on rushing…
Will democracy be built around currency, or will currency revert to national democracies? Martin Wolf argues with usual clarity that the EU bail-out is a temporary measure: the Eurozone…
Now that the Greek debt crisis has been "fixed" by a gigantic pile of more debt, many are wondering which European nation will be next to experience a massive debt…
Lots of concern the last few weeks over sovereign debt. Investors globally were wondering how Greece would fund its budget shortfalls. Now we're looking at how Europe is going to…
Michael Lewitt has an interesting new book out, called "The Death of Capital". In it, Lewitt attacks speculative investment activities such as private equity buyouts. He notes that such speculation…
Everywhere you turn in the financial media right now you see some "expert" declaring that the Greek debt crisis has become a "contagion" which is going to spread all over…
Market fluctuations are mostly noise. To understand the trends beneath the surface noise, we need to establish an integrated context. The Mainstream Financial Media (MFM) is famously (or infamously) deficient…
The world is in distress. The economic future looks bleak. Who can the citizens of our great planet turn to, to save them in this time of need? The Federal…
Papering over the structural imbalances in the Eurozone with endless bailouts will not resolve the fundamental asymmetries. Beneath the endless announcements of Greece's "rescue" lie fundamental asymmetries that doom the…
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,…
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…
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…
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…
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…
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…
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…