Hong Kong and the road to recovery
byWe are following the road to perdition There is increasing awareness that another financial crisis is in the offing, and, of course, everyone has…
Economics
Happy anniversary
by“They have learned nothing, and forgotten nothing.” Attributed to Talleyrand. Since everybody else in financial media has been indulging in an orgy…
Macro Aggregates Hide the Real Market Processes at Work
byFor the 12 months that ended in July 2018, price inflation in the United States, as measured by the Consumer Price Index, was 2.9…
Everything is awesome
by“What explains the complacency? One reason might be the absence of good ideas.” Martin Wolf in the Financial Times (‘Why so little has…
Why the Fed Denied the Narrow Bank
byIt’s not every day that a clear example showing the horrors of central planning comes along—the doublethink, the distortions, and the perverse incentives. It’s…
Japan’s Not Really A Domino, Though The Timing Is Right
byBy Jeffrey P. Snider This year is just different. Increasingly so. Not just in one or two places, either, but in way too many places….
Interest Rates Need to Tell the Truth
byIn the middle of July 2018, President Donald Trump said in an interview that he was “not happy” with the Federal Reserve nudging up…
On the wealth, and poverty, of nations
by“There’s a great deal of ruin in a nation.” Adam Smith, in correspondence discussing the Battle of Saratoga, which marked a turning point…
Divergent – the breakdown of stock market correlations, temp or perm?
byEmerging market stocks have stabilised, helped by the strength of US equities Rising emerging market bond yields are beginning to attract investor attention…
The Economist’s Original Prospectus From Its Founding
byEditor’s Note: I found this on their website, an interesting piece to read in 2018… …………………………………………………….. And now we beg to submit the…