The crack-up boom has already begun
“Negative interest rates are not the fault of central banks” Martin Wolf column for the Financial Times of 12 April, 2016. From ‘Human…
A crisis of intervention
“For whosoever hath, to him shall be given, and he shall have more abundance: but whosoever hath not, from him shall be taken away…
Just who is the enemy?
“..I sat at my desk wringing my hands, transfixed by the tragic slapstick of British politics.. “We are in the biggest domestic political crisis…
On Monetary Terrorism
“Darling.. So No. 3 Commando were very anxious to be chums with Lord Glasgow so they offered to blow up an old tree stump…
Mental men prefer bonds
“In a time of universal deceit, telling the truth is a revolutionary act.” George Orwell. Japan got there first. 15 years ago, we…
Trust no-one
“Predictably, there is speculation that Brexit will not happen. If Britain can vote for Brexit, it is being argued, surely anything is possible. But…
Safety in (the right) numbers
“Gross: Global yields lowest in 500 years of recorded history. $10 trillion of neg. rate bonds. This is a supernova that will explode…
When the game changes
“In a free market, the price and quantity of an item are determined by the supply and demand for that item.” ‘The function and…
Surviving Mission Creep
“So there is another reason why Europe isn’t growing and it’s one the central bank can do nothing about. Namely, the 19 governments of…
Time to be bullish
“We don’t see a recession coming in the United States.” Abby Joseph Cohen in a recent Bloomberg interview. US corporate profits are experiencing…