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Cheaper oil will not boost global growth, says Moody’s
Cheaper oil will not boost global growth, says Moody’s Lower oil prices will fail to give a “significant boost” to global growth in the next two years, Moody’s has said. The ratings agency said any boost from cheaper oil would be offset by the eurozone’s economic woes as well as slowdowns in China, Japan and […]
EU Energy Union May Be Biting Off More Than It Can Chew
EU Energy Union May Be Biting Off More Than It Can Chew With oil and gas still flooding the scene it’s a buyer’s market. For some however, picking isn’t easy. For the European Union specifically, an abundance of choice comes with its own set of logistical and geopolitical problems. February 4 marked the launch of the EU’s […]
Europe’s Greek Showdown: The Sum Of All Statist Errors
Europe’s Greek Showdown: The Sum Of All Statist Errors The politicians of Europe are plunging into a form of ideological fratricide as they battle over Greece. And “fratricide” is precisely the right descriptor because in this battle there are no white hats or black hits—-just statists. Accordingly, all the combatants—the German, Greek and other national politicians and the apparatchiks […]
China’s Monumental Debt Trap—-Why It Will Rock The Global Economy
China’s Monumental Debt Trap—-Why It Will Rock The Global Economy Bloomberg News finally did something useful this morning by publishing some startling graphs from McKinsey’s latest update on the worldwide debt tsunami. If you don’t mind a tad of rounding, the planetary debt total now stands at $200 trillion compared to world GDP of just $70 […]
Charts showing the long-term GDP-energy tie (Part 2 – A New Theory of Energy and the Economy)
Charts showing the long-term GDP-energy tie (Part 2 – A New Theory of Energy and the Economy) In Part 1 of this series, I talked about why cheap fuels act to create economic growth. In this post, we will look at some supporting data showing how this connection works. The data is over a very long time […]
The Beauty of Deflation
The Beauty of Deflation Deflation Paranoia The euro zone’s consumer price inflation rate declined below 1% in early 2014, getting closer to zero during 2014, nowhere near the ambitious 2% benchmark set by central banks. A further small downward adjustment in the inflation rate has put it into negative territory, so harmonized euro area consumer […]
We’ll Meet Again, Don’t Know Where, Don’t Know When
We’ll Meet Again, Don’t Know Where, Don’t Know When I was having a post-Departmental Colloquium dinner with a small group of colleagues from the Harvard Chemistry Department in the Spring of 2008 when the subject turned to the then-recent shudderings of the stock market – a topic which at the time was of greater concern […]
Canada GDP shrinks, stirring talk of another rate cut
Canada GDP shrinks, stirring talk of another rate cut OTTAWA (Reuters) – Canada’s economy unexpectedly shrank by 0.2 percent in November, prompting market talk that the Bank of Canada will cut interest rates in March for the second time in six weeks. Analysts had expected no growth from October. The month-on-month decline was the largest since […]
Brazil’s Economy Is On The Verge Of Total Collapse
Brazil’s Economy Is On The Verge Of Total Collapse Back when the BRICs were the source of marginal global growth, the punditry couldn’t stop praising them. However, in the past year, now that China’s housing bubble has burst and its shadow banking system has imploded, those who remember what BRIC actually stood for are about […]
Are Central Bankers Losing The Plot: “The SNB Move Signals A Spectacular Loss Of Nerve”
Are Central Bankers Losing The Plot: “The SNB Move Signals A Spectacular Loss Of Nerve” As we have reiterated very frequently over recent years, the biggest vulnerability in the post crisis environment was that central banks start to make policy errors, by taking activist and precipitous decisions. Thus following on from last year’s error by Norges […]
Empirical Proof of the Giant Con
Empirical Proof of the Giant Con I want to continue on with my recent focus on the giant con and if you’ve been reading my work lately you’ll certainly know what that is. However, for those of you not familiar with the giant con, it is the idea that our economy is growing when, in fact, […]
Crossroads on Global Infrastructure
Crossroads on Global Infrastructure Massive Global Infrastructure Projects Could Prevent Achievement of a Sustainable Economy While Undermining Life Support Systems of the Earth Plans by the world’s most powerful countries are well underway to spend trillions of dollars for new mega-infrastructure projects to rejuvenate the global economy. The hope of the G-20 nations, the World […]
US Sees Huge Energy Opportunity In Europe
US Sees Huge Energy Opportunity In Europe If 2015 is anything like 2014 we can expect a wild ride. Oil price volatility – including its downward trend – will linger well into the first and second quarters as global production persists and key conflicts in Eastern Europe and the Middle East show no end. For […]
A statement full of Keynesian fallacies – Ludwig von Mises Institute Canada
A statement full of Keynesian fallacies – Ludwig von Mises Institute Canada. From today’s Open Europe news summary: Draghi: ECB ready to initiate QE to counter low inflation In an interview with Handelsblatt, ECB President Mario Draghi warned that persistently low inflation in the Eurozone meant that “the risk that we do not fulfill our mandate […]
2015 World GDP Expectations Just Collapsed | Zero Hedge
2015 World GDP Expectations Just Collapsed | Zero Hedge. World GDP Growth Expectations for 2015 just dropped dramatically to their lowest since expectations began to be tracked. From 3.40% in early 2013, the consensus is expectating world economic growth at a mere 2.72% (a 20% decline in growth expectations). Of course, there is one thing that is […]
