Here’s one for the “seriously, you’re surprised?” file: China pegs its currency, the yuan, to the dollar, the dollar soars, taking the yuan with it…and
The point of competitive devaluation, aka currency war, is that a cheaper currency gives a country several advantages over its trading partners, leading to better
The way markets usually work is that on any given day (or in any given year) some asset classes are up while others are down.
The premise of a currency war is that by devaluing its currency a country is able to sell things overseas more cheaply, which gooses its
Australia just fired a serious shot in the currency war by cutting its overnight lending rate to a record-low 2.25%. With the aussie as a
The term gets tossed around a lot, but the meaning and consequences of a “currency war” aren’t intuitively clear to most people. Especially confusing is
Switzerland, as everyone knows by now, has slipped out the back door of the drunken orgy that is the modern financial system. And the other
It’s been quite a month. In late October Japan, despite a year of fairly aggressive quantitative easing, dropped back into recession and concluded that even
The dollar is on a tear. And the world is scrambling to figure out what it means. Beginning with the always-interesting Martin Armstrong in a
Europe is an economic basket case while the US is kind-of sort-of recovering. Why? Several reasons, but the only one that really matters these days
Last year the world kind of forgot about Europe. After ECB head Mario Draghi vowed to “do whatever it takes” to get the Continent growing,
This morning the European Central Bank tried something different. As Bloomberg reported: Draghi Takes ECB Deposit Rate Negative in Historic MoveThe European Central Bank cut
For the past couple of years the European Central Bank has been the only sane inmate in the asylum. Unfortunately, in a crazy world being
As it tries to punish Russia for the latter’s dismemberment of Ukraine, the West is discovering that the balance of power isn’t what it used
It’s amazing how quickly China went from being the world’s savior to its biggest danger. To recap: When the developed world stepped off a cliff
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