The Federal Reserve announced it would continue pumping up to $75 billion into the money markets until early November. The Fed is also injecting money into the system as part of its ‘reserve management’ program…
In August 1979, Volcker took over at the Fed. His mission was to kill inflation. This he did by hiking the Fed’s key lending rate up to 20% in June 1981. Mortgage rates hit 16%.…
Everyone in the US seems to think that the Chinese cheat — they manipulate their currency, steal intellectual property and are too rough on their Muslim minorities. But in a capitalist economy, companies and consumers…
In the US, circa 2024, the more likely target will be the rich. Why? Because they allegedly caused the next financial crisis. And because they profited from them. Magazines will chronicle how the rich made…
In the US-China trade war, for example, we doubted that the Donald would ever go all the way. He’s got an election to win. He needs to claim victory against the Chinese and end the…
Today, we come bearing glad tidings. We’ve seen how both Trump and Warren, the Federal Reserve, Congress, Krugman, Summers, the powers that be, and all the ships at sea are committed to inflating our way…
Today, we turn to something no one cares much about, even though it threatens to cause the biggest financial crisis in US history: Debt. Total US debt, public and private – now approaches $74 trillion…
When push comes to shove in the next crisis, both Warren and Trump will push in the same direction: towards more inflation. Some say Ms Warren is ‘unelectable’. But they said that about Mr Trump…
Most likely, the stock market will crash sometime before the 2020 election. We can’t know when. The end of the stock market boom, too, is unpredictable. But each passing day brings us a day closer…
We hoist the sails and head out onto a sea of debt. Surely there’s a big storm out there somewhere. Thanks to innovations in finance, the poor buyer has been forced to go deeper and…