Guest Post: An Economic Fairy Tale
Submitted by Brandon Smith of Alt-Market blog,Once upon a time there lived an independent and industrious people in a land called Ameristan deep in the realm of Middle Income. Their kingdom was unlike...
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2012 Year In Review - Free Markets, Rule of Law, And Other Urban Legends
Submitted by Dave Collum via Peak Prosperity,BackgroundI was just trying to figure it all out.~ Michael Burry, hedge fund managerEvery December, I write a Year in Review that has now found a home at...
View ArticleBack To The Future
Via Mark J. Grant, author of Out of the Box,“Computers in the future may weigh no more than 1.5 tons.” -Popular Mechanics, 1949 Forecasting the future with any accuracy is a difficult...
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Goldman On The Debt Ceiling: "It's Different This Time"
As Obi-Wan Kenobi might have said "This is not the debt ceiling debacle you are looking for." That is the seeming 180-degree shift that Goldman appears to have taken with its latest missive on the...
View ArticleHyperinflation In Action: Beer For Bag Of Cash
In May 2011, Belarus surprised its citizens by devaluing its currency by 50% overnight in an attempt to kickstart its economy, leading to swift and brutal hyperinflation. And while written narratives...
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Guest Post: Declining Global Growth
Via John Aziz of Azizonomics blog,In an increasingly globalised economy, we need more global data measurement.The Economist presents a new attempt to measure global GDP. The sub-bars are showing each...
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A Look Back At Barack Obama's First Inaugural Address
With a few short hours left until Barack Obama's second inaugural address, it is prudent to review the remarks, statements and promises from his first inaugural address delivered on January 20 2009....
View ArticleEurope's 'Bank Sector Involvement'
Via Mark J. Grant, author Out of the Box,How many European Union officials does it take to change a light bulb? None. There is nothing wrong with the light bulb; its condition is improving every day....
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Japan To Slash Welfare Benefits In Attempt To Root Out "Comfortably Poor"
Two months ago we demonstrated one of the biggest paradoxes of the current iteration of the US welfare state, in which a single mom earning gross income of $29,000 has the same disposable income after...
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Why Isn't Gold Higher?
My colleague and erstwhile nemesis Gonzalo Lira posed the question above in a recent essay, and it is indeed a most puzzling one. Given that the world’s central banks — joined most recently by a...
View ArticleGermany, Spain Set To Pull The Plug On Green Energy
Over ten years ago, when Europe was a bright and shining example of experimental monetarist "brilliance", and when the money was flowing, the continent decided to do the ethical thing and actively...
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Guest Post: Visualizing Bob Farrell's 10 Investing Rules
Via Lance Roberts of Street Talk Live blog,As the markets once again approach historic highs - the overly exuberant tone, extreme complacency and weakness in the economic data, bring to mind Bob...
View ArticleFrontrunning: February 21
China drains cash to curb liquidity (FT) - no longer just a New Year issue...Hilesnrath speaks (but nobody cares anymore) - Fed Split Over How Long To Keep Cash Spigot Open (WSJ)Chasm opening between...
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Nirvana, Creditopia, And Why Central Banks Are The Devil
Via Hinde Capital,Central banks are the devil. They are like drug dealers except they administer regular doses of supposedly legally prescribed barbiturates to their addicts. The 'easy money' or...
View ArticleIceCap Asset Management: "The Worst Is Over"
From IceCap Asset Management, February 2013,The Worst Is OverThe dark ages were an awful time. Considering the brightest days delivered constant warfare, the burning of books, and the fear of...
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Can It Last?
Following yesterday's Beige Book extravaganza of mediocrity, ConvergEx's Nick Colas decided to do what the kids today call a “Mashup” – mixing different sources to create a new experience. Instead of...
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Not Even Fed's Premonetization Can Help Today's Weak 30 Year Auction
Not even the Fed pre-monetizing yesterday of today's 30 Year reopening auction could do much to improve demand for today's $13 billion sale in long-dated paper. Because if yesterday's 10 Year auction...
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Crime and Punishment
I just returned from the barber (I don't like my hair getting even somewhat longish, and I find getting a haircut surprisingly relaxing). While there, I thumbed through the Palo Alto Daily Post. In it...
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Europe Does It Again: Cyprus Depositor Haircut "Bailout" Turns Into Saver...
Europe has done it again.Late last night, after markets closed for the weekend, following an extended discussion the European finance ministers announced their "bailout" solution for Russian oligarch...
View ArticleThe End Of Systemic Trust: The Canary Just Died
Submitted by Lucas Jackson,“When it becomes serious, you have to lie."-Jean Claude Juncker, PM of Luxembourg, and the head of the Eurogroup council of eurozone finance ministersMay, 2011Prior to...
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