Gold, ornamentation and money: that was the sequence of events. Man discovered gold, found it malleable, durable and attractive. It was first used for ornamentation, then as social economics ... Read More
Following an article in the Nikkei Asia Review, which reported China will shortly introduce an oil futures contract priced in yuan, there has been some confusion about what it ... Read More
Every now and then, there’s a rash of commentary on national productivity. And for the British, productivity is all part of the Brexit angst, with the OECD, the ... Read More
Last week, both Janet Yellen of the Fed and Mark Carney of the Bank of England prepared financial markets for interest rate increases. The working assumption should be ... Read More
The global economy is now in an expansionary phase, with bank credit being increasingly available for non-financial borrowers. This is always the prelude to the crisis phase of the ... Read More
The Jackson Hole speeches of Janet Yellen and Mario Draghi last week were notable for the omission of any comment about the burning issues of the day: …where do ... Read More
Gold is challenging the $1300 level for the third time this year. If it breaks upwards out of this consolidation phase convincingly, it could be an important event, ... Read More
The fiscal benefits of free trade Western governments have an overriding problem, and that is they have reached or exceeded the bounds of taxation, at a time when ... Read More
The purpose of this article is to draw the widest attention to the chronic inability of the economic establishment to forecast recessions. Next time you hear an economist ... Read More
There are currently two important items on the Fed’s wish list. The first is to restore interest rates to more normal levels, and the second is to unwind the ... Read More
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