Financial Markets

97% of consensus economists didn’t see the last recession the quarter before it started. Even worse, 77% didn’t see a recession when it was already happening!

Blaming the euro will not save Italy. Italy’s problem is political spending — the same problem that this new budget is going to greatly increase.

It's frightening to see the persistent lack of insight shown by policymakers and financial media on the 2008 financial crisis.

With cryptocurrencies, currency competition in the spirit of Hayek has become possible even in the absence of self-limitation by governments.