Apr 25

US Factories Crushed By Strong Dollar

Government statistics are always suspect, for at least one obvious reason: Modern economies are way too big and complex to…

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Apr 22

When All News Is Bad News

One of the defining traits of financial bubbles is the willingness of traders and investors to interpret pretty much everything…

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Apr 19

Is The Credibility Bubble Bursting?

In a fiat currency system, perception is, by definition, everything. Paper money has no intrinsic value. So the people saving…

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Apr 17

2007 All Over Again? Let Us Count The

There’s a journalistic sub-genre that might be called “The Highest/Lowest Since XXX,” in which a reporter takes a current statistic…

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Apr 16

Is A Trap About To Be Sprung?

New York artist Stephen Green’s latest painting, DemandedDislocation, combines current affairs irony with a deeply sad vision of the future.…

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Apr 15

OPEC Going Broke, Dumping Dollars. Is That Good

When oil prices fell out of bed last winter there was much hand-wringing over the fate of the former beneficiaries…

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Apr 13

What Gold’s Bull Market (That’s Right, Bull Market)

One of the oddities of floating exchange rates is that they cause people to view the world in terms of…

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Apr 10

GE Gets Out At The Top

Back in the early 2000s, General Electric — previously known as the world’s biggest, best managed maker of cool, useful…

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Apr 7

More Scary Numbers

The list of things hitting cyclical peaks gets longer every day. Besides the nominal amounts (debt, derivatives, money supply) that…

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Apr 5

Is The Whole World Slowing Down?

The stats just keep getting stranger and, if you’re a policymaker or an investor, scarier. According to a (now widely…

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Mar 27

Why We Feel So Poor, In Two Charts

Among the many things that mystify economists these days, the biggest might be the lingering perception, despite six years of…

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Mar 24

We’re All Hedge Funds Now, Part 2: Tech

Watching formerly risk-averse investors adapt to a negative interest rate world is almost as much fun as watching Europe try…

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Mar 20

We’re All Hedge Funds Now

As negative interest rates spread from Switzerland, Japan and Germany to the rest of the developed world, people with money…

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Mar 17

We’re Very Disappointed In You!

Another day, another “unexpectedly” bad economic report. Lately it seems like a lot of what US government statisticians say comes…

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Mar 15

Welcome to the Currency War, Part 18: Dollar

The point of competitive devaluation, aka currency war, is that a cheaper currency gives a country several advantages over its…

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Mar 13

Lessons of History, Part 1: Not a Mention

I’m listening to the audio version of George, Nicholas and Wilhelm: Three Royal Cousins and the Road to World War…

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Mar 10

How Low Can The Euro Go? (Or Is

The euro is tanking again, as the ECB starts buying bonds for its long-promised “whatever it takes” QE program. Today’s…

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Mar 8

Aftershocks, Part 1: That Austrian Bank

Sometimes little things are the start of much bigger things. Probably the most famous historical example of this is the…

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Mar 5

What Do These Two Charts Have In Common?

The premise of a currency war is that by devaluing its currency a country is able to sell things overseas…

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