This Is How They Fool Us, China Edition
So it seems that China’s economy, caught in the grip of a credit crisis just a few months ago, is all better. And so, by
So it seems that China’s economy, caught in the grip of a credit crisis just a few months ago, is all better. And so, by
Corporate profitability is one of the canaries in today’s financial coal mine. If companies are making more money each year they tend to hire more
In that deservedly-famous 2006 CNBC debate between Peter Schiff and economist Arthur Laffer (in which the latter manages to be both arrogant and wrong about
Talk about diminished expectations. This morning’s estimate of 1.4% Q4 GDP growth is being hailed as a pleasant surprise. Which is odd, considering that for
Savers are the obvious victims of the past few years’ plunge in interest rates. But there are other casualties, including money market funds, which have
This morning, US existing home sales plunged and the Chicago Fed’s national activity index turned negative. Both are obvious signs of a slowing economy. Anticipating
Peggy Noonan, former Reagan administration speech writer and current Wall Street Journal pundit has, like most of her peers, been wondering what’s gotten into the
One of the (many) fascinating things about this latest global financial crisis is that there’s no single catalyst. Unlike 2008 when the carnage could be
Good friend Michael Pollaro just sent a couple of charts that show the US economy heading for a brick wall. The first illustrates what happens
A too-strong currency is, in theory, supposed to make it harder to sell things to cheap-currency countries, thus crimping corporate profits and by implication pretty
The markets seemed to like what the Fed had to say yesterday, including the part about definitely, for sure, no kidding around this time raising
New Age monetary policy has begun to resemble the form of insanity in which a patient repeats the same behavior while expecting a different outcome.
The US markets awoke to news of several big, disturbing overseas events: Glencore implodes. Think of Swiss commodities giant Glencore as a modern version of
Not only did the Fed vote to keep interest rates stable yesterday, it did so overwhelmingly — with just as many members apparently favoring lower
Money center banks — which over the past few decades have grown into the biggest financial entities the world has ever seen — appear to
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