According to the Wall Street Journal, Greece staying in the eurozone is no longer “the base case” for European officials, and one even told the Journal that “literally nothing ... Read More
Did you know that the number of publicly traded companies declaring bankruptcy has reached a five year high? And did you know that Chinese exports are absolutely collapsing and ... Read More
When oil prices fell out of bed last winter there was much hand-wringing over the fate of the former beneficiaries of high-priced crude. Trillions of dollars of junk bonds ... Read More
The list of things hitting cyclical peaks gets longer every day. Besides the nominal amounts (debt, derivatives, money supply) that are now at all-time highs, some “as a share ... Read More
Listening to German Finance Minister Wolfgang Schäuble and his Greek counterpart Yanis Varoufakis speaking about the recent Eurogroup agreement on Greece, one could be forgiven for thinking they were ... Read More
The stats just keep getting stranger and, if you’re a policymaker or an investor, scarier. According to a (now widely publicized) McKinsey & Co study, instead of deleveraging after the ... Read More
Our current faith in central banks’ ability to “make the economy all better, all the time” is horrendously misplaced. We are living in the Cargo Cult Era of Central ... Read More
When I read media discussions about deflation,” three separate meanings are often used more-or-less interchangeably. One meaning is the way that economists use the term, in which “deflation” means ... Read More
My guess is that if you asked Americans if their income taxes should be public information, the answers would mostly run the spectrum from “absolutely not” to “hell, no.” ... Read More
Watching formerly risk-averse investors adapt to a negative interest rate world is almost as much fun as watching Europe try to keep Greece and Germany in the same financial ... Read More
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