The global recovery meme got another series of jolts this morning, as pretty much everything suprised on the downside. In no particular order: ” Japan economy ... Read More
A month ago China’s stock bubble was bursting and Greece was imploding. Yet the US Fed, in a violation of both headline sentiment and common sense, was still promising ... Read More
Any discussion of China has to open with the now-widely-understood fact that the numbers it reports are not to be trusted. Knowing this makes it easy to dismiss claims ... Read More
As boxers like to say, it’s the punch you don’t see that knocks you out. In a world where a growing part of the financial system is hidden from ... Read More
These days no matter what the Federal Reserve actually says, the markets respond like dogs sensing a piece of bacon coming their way. This is so for several reasons: ... Read More
The whole “market economy” thing is turning out to be a little trickier than China’s dictators expected. To set up the story: After the 2008 crash the country borrowed ... Read More
The Great Recession and its aftermath was actually the best of times for countries with natural resources to sell. The US, Europe and Japan ran record deficits and cut ... Read More
First, precious metals peaked and began drifting lower. Then copper fell, oil plunged and it became obvious that these weren’t isolated events. The entire commodities complex — that is, ... Read More
Since its inception, critics of the eurozone have been pointing to its incomplete nature — everyone uses the same money but keeps their own national budgets and tax regimes ... Read More
The hostile takeover is almost complete. On Sunday Greece agreed not just to Germany’s original demands, but to even more: “(Bloomberg) – The conditions that Tsipras swallowed comprised a ... Read More
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