The Next Financial Crisis
The next crisis is not likely to be another Lehman, but another Japan — a widespread zombification of global economies.
The next crisis is not likely to be another Lehman, but another Japan — a widespread zombification of global economies.
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!
What causes financial crises, domestic and global, is the underlying, continuing credit expansion.
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.
We have been hearing from central banks that we were living in a synchronized growth territory. Well, it wasn’t the case.
Daniel Lacalle and Jeff Deist discuss why all of us have a stake in seeing central bank balance sheets shrink.
It's frightening to see the persistent lack of insight shown by policymakers and financial media on the 2008 financial crisis.
Lehman was a prime example of mainstream consensus analysis of risk and economic opportunity. We "solved" it with more of the same.
With cryptocurrencies, currency competition in the spirit of Hayek has become possible even in the absence of self-limitation by governments.