USD ready for a second leg higher – then what?
byOne year ago we showed the following chart to explain the relative strong dollar that was on everyone’s mind at the time. With a…
Financial Stability
A history of Fractional Reserve Banking – or why interest rates are the most important influence on stock market valuations? Part 1
byEditor’s Note: The following history of fractional reserve banking, by Colin Lloyd, was kindly written especially for The Cobden Centre. William Hogarth – The…
David Stockman: The Apotheosis Of Bubble Finance
byThe inexorable effect of contemporary central banking is serial financial booms and busts. With that comes increasing levels of systemic financial instability and a…
David Stockman: Crisis Is Us – The Inexorable Result Of Modern Central Banking
byThe inexorable effect of contemporary central banking is serial financial booms and busts. With that comes increasing levels of systemic financial instability and a…
Durable Goods Add To The Idea of Depression (Small ‘d’)
byThere wasn’t anything new or surprising in the advance durable goods report. Shipments (ex transportation) were flat and orders were up 1% year-over-year (NSA)….
Rationalizing ‘Rational’
byWalter W. Heller was said to have been an “educator of Presidents.” As an economist and Presidential advisor in the inner circles of DC,…
A Letter to the Left: The Gold Standard Will Restore Upward Mobility
byAbout a year ago, Stan Sorscher, Labor Representative, Society for Professional Engineering Employees in Aerospace, published a frighteningly important blog at The Huffington Post (where…
Why Deutsche Bank Thinks A Fed Rate Hike Would Unleash A Stock Market Crash
byFollowing this week’s FOMC Minutes shows, which violently repriced June rate hike odds from 4% to 30% and July from 20% to 50%, the…
David Stockman: Yelling ‘Stay’ In A Burning Theater—–Yellen Ignites Another Robo-Trader Spasm
bySimple Janet has attained a new milestone as a public menace with her speech to the Economic Club of New York. It amounted to yelling “stay” in a burning theater!…
Central Banks – Ah Aaaaahhh! – Saviours of the Universe?
byCopryright: Universal Pictures Freight rates have fallen below 2008 levels With the oil price below $30 many US producers are unprofitable The Fed has…