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Tag Archives: global economy
According To Deutsche Bank, The “Worst Kind Of Recession” May Have Already Started
According To Deutsche Bank, The “Worst Kind Of Recession” May Have Already Started One week ago, Deutsche Bank’s Dominic Konstam unveiled, whether he likes it or not, what the next all too likely step will be as central bankers scramble to preserve order in a world in which monetary policy has all but lost effectiveness: “It […]
While America Debates the $20 Bill, China Moves Closer to Gold
While America Debates the $20 Bill, China Moves Closer to Gold On Wednesday, Jack Lew announced that the US Treasury was following Ben Bernanke’s advice and keeping Alexander Hamilton on the $10, instead deciding to bring Harriett Tubman to the $20. While Lew’s news left America distracted in debate over whose portrait should grace the Federal Reserve’s most popular […]
‘They’ Have Decided “We Can’t Handle The Truth”
‘They’ Have Decided “We Can’t Handle The Truth” It’s a fun conceit of science fiction to contemplate the existence of alternative universes. As Bloomberg’s Richard Breslow points out, when you think they exist in the same time and place, it leaves the realm of the paperback section of the airport newsstand and is better discussed in […]
Demand for World Bank loans nears crisis levels
Demand for World Bank loans nears crisis levels Lending forecast at £25bn for 2016 as developing countries struggle to cope with weakening global economy A banner announces the 2016 spring meetings of the IMF and World Bank in Washington DC. Photograph: Mandel Ngan/AFP/Getty Images Demand for loans from the World Bank has reached levels unsurpassed outside of […]
The Entire Global Economy Now Hinges on One Thing
The Entire Global Economy Now Hinges on One Thing As I write these words we are now only hours away from The Most Important Event Ever to Happen in the History of the Global Economy. Investors are bracing themselves. Markets are anticipating. Journalists are spilling Olympic sized swimming pools of ink on writing headlineafter headline after headline after headline after headline after headline about this, the […]
Bernanke’s Former Advisor: “People Would Be Stunned To Know The Extent To Which The Fed Is Privately Owned”
Bernanke’s Former Advisor: “People Would Be Stunned To Know The Extent To Which The Fed Is Privately Owned” With every passing day, the Fed is slowly but surely losing the game. Only it is not just former (and in some cases current) Fed presidents admitting central banks are increasingly powerless to boost the global economy, even […]
Cash Banned, Freedom Gone
Cash Banned, Freedom Gone Some politicians want to ban cash, arguing that cash is helping criminals. The first steps in that direction are the withdrawal of big denomination notes and the limits imposed on cash payments. Proponents of a ban on cash claim that this will help fight criminal transactions — involved in money laundering, terrorism, and […]
Triffin’s Paradox Revisited: Crunch-Time for the U.S. Dollar and the Global Economy
Triffin’s Paradox Revisited: Crunch-Time for the U.S. Dollar and the Global Economy The reality is that we’re one panic away from foreign-exchange markets ripping free of central bank manipulation. While all eyes on fixated on global stock markets as the measure of “prosperity” and “growth” (or is it hubris?), the larger force at work beneath […]
Krugman Goes To Japan, Scolds Abe For Worrying About Quadrillion Yen Debt Pile, Leaves
Krugman Goes To Japan, Scolds Abe For Worrying About Quadrillion Yen Debt Pile, Leaves Much like BoJ governor Haruhiko Kuroda, Paul Krugman thinks that the key for Japan when it comes to overcoming decades of deflation is a positive outlook. “Japan needs to reach a point where everyone believes that it has pulled out of […]
In One Year The US Mining Industry Lost More Money Than It Made In The Prior Eight
In One Year The US Mining Industry Lost More Money Than It Made In The Prior Eight For anyone still looking for context to the biggest ever collapse in commodity prices in history, one far sharper and now longer than that in the deflationary aftermath of the Lehman failure, look no further than the chart […]
WTI Crude Slides Back Into Red For 2016 As The Fed And Oil Remain On Unsustainable Paths
WTI Crude Slides Back Into Red For 2016 As The Fed And Oil Remain On Unsustainable Paths Oil prices have increased 50 percent since the lows exhibited earlier this year, a rise that is largely linked to the positive market reaction to the OPEC output freeze. But WTI Crude has given up all its early […]
Deutsche Bank: Negative Rates Confirm The Failure Of Globalization
Deutsche Bank: Negative Rates Confirm The Failure Of Globalization Negative interest rates may or may not be a thing of the past (many thought that the ECB had learned its lesson, and then Vitor Constancio wrote a blog post showing that the ECB hasn’t learned a damn thing), but the confusion about their significance remains. […]
Norway’s Interest Rate Conundrum
Norway’s Interest Rate Conundrum Current Situation The ECB recently stimulated more than expected, cutting rates by five basis points and expanding quantitative easing. It is already expected that Norges Bank (The Norwegian Central Bank) will cut rates next week, seeing accelerating inflation as temporary. They have a 2.5% inflation target mandate “over time,” giving them lee-way. They see demand […]
The “Terrifying Prospect” Of A Triumph Of Politics Over Economics
The “Terrifying Prospect” Of A Triumph Of Politics Over Economics The Triumph of Politics All of life’s odds aren’t 3:2, but that’s how you’re supposed to bet, or so they say. They are not saying that so much anymore, or saying that history rhymes, or that nothing’s new under the sun. More and more theys seem […]
Are You Kidding Me? Chinese Exports Plunge 25.4 Percent Compared To Last Year
Are You Kidding Me? Chinese Exports Plunge 25.4 Percent Compared To Last Year We just got more evidence that global trade is absolutely imploding. Chinese exports dropped 25.4 percent during the month of February compared to a year ago, and Chinese imports fell 13.8 percent compared to a year ago. For Chinese exports, that was the worst decline that […]
