Financial MarketsGlobal EconomyMoney and Banks
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!
Big GovernmentFinancial MarketsGlobal Economy
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.
The FedFinancial MarketsGlobal Economy
We have been hearing from central banks that we were living in a synchronized growth territory. Well, it wasn’t the case.
Booms and BustsThe FedFinancial MarketsGlobal Economy
Global EconomyMoney and BanksMoney and Banking
China’s stealth devaluation is not making the country more competitive, it is making household and corporate debt riskier as the purchasing power of the yuan is diminished.
Financial MarketsU.S. EconomyMoney and Banking
Lehman was a prime example of mainstream consensus analysis of risk and economic opportunity. We "solved" it with more of the same.
EducationMonopoly and Competition