Even though the former chief economist of the BIS calls for a debt jubilee, it’s only part of the medicine needed to get the economy out of the ditch.
Read more...Why the high risk spreads in the junk bond market bode ill for the stock market.
Read more...The difficultly of maintaining currency pegs, most important the renminbi and riyal versus the dollar, will put even more stress on financial markets.
Read more...A card-carrying member of the 0.1%, Steve Schwarzman of Blackstone, has reveled himself to be dangerously out of touch.
Read more...The history of the political calculus that led the Democratic Party to turn its back on its traditional base, the working class, and how that’s coming back to bite now.
Read more...Fund manager cash holdings are at crisis-bottom levels, typically a sound bullish indicator. But will history predict the future this time?
Read more...Oil has ratcheted down again and stocks are getting hammered.
Read more...The failure to use fiscal policy in tandem with monetary policy means that the timid and short-sighted private sector has lacked confidence to ratchet up investment in productive, income-generating activity – as opposed to speculative activity.
Read more...Yves here. Sometimes it is best to let things speak for themselves. In that spirit, I am embedding a very important paper by the well-respected investment management firm GMO which debunks the tenets of “sound finance,” meaning the claim that governments need to balance their budgets. I expect to be referring to it regularly, particularly […]
Read more...By Don Quijones, Spain & Mexico, editor at Wolf Street. Originally published as Wolf Street. On Friday, Spain’s benchmark stock index, the Ibex 35, plumbed depths it had not seen since the worst days of 2013, the year that the country’s economy began its “miraculous” recovery. Of the 35 companies listed on the index, 15 […]
Read more...Dave here. The markets have taken a beating in 2016, and while the fallacy of thinking the market=the economy seems like an oversimplification, this post provides a competing viewpoint that, without taking a position in affirmation or dissent, I thought I would offer up for discussion. For some background, you can read Edward’s other posts […]
Read more...How the struggle over who controls the commons, the monied classes or a broader group of citizens, reveals the fundamental contradictions of capitalism.
Read more...Are the eurozone’s continuing woes the result of its incomplete construction or because of policy errors in responding to the crisis?
Read more...Standard & Poors warns of the worst drop in the “net outlook bias” for bond investors since the financial crisis.
Read more...The fundamental contradictions of neoliberal capitalism are pushing it to the breaking point.
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