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
There has been so much attention on Greece in recent weeks, but the truth is that Greece represents only a very tiny fraction of an unprecedented global debt bomb ... Read More
In the world of competitive sports, “bulletin board material” refers to when you collect negative comments from others and post then in public place to fire up your motivation. ... Read More
Piling on more debt is the worst possible way to correct structural trade and productivity imbalances. In Greece and the End of the Euroland Fantasy, I suggested the trade ... Read More
The “deal that was designed to fail” has already begun to unravel. The IMF, which was expected to provide a big chunk of the financing, has indicated that it ... 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
Greece is saved? All over the planet, news headlines are boldly proclaiming that a “deal” has been reached which will give Greece the money that it needs and keep ... Read More
The theatricals and melodrama of the current Greek crisis mask a far more serious issue than mere political entertainment. The self-created sequence of threats to Greece i.e. sovereign debt ... Read More
The Austrian School of economics has a concept called a “crack-up boom” in which a critical mass of people conclude that their government is actively trying to devalue its ... Read More
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