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Olduvai III: Catacylsm
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Credit Markets – The Waiting Game

Credit Markets – The Waiting Game Everything and the Kitchen Sink After the first inter-meeting rate cut in early March, we opined that further rate cuts were a near certainty and that “not-QE” would swiftly morph into “QE, next iteration” (see Rate Cutters Unanimous for the details). As it turned out, the monetary mandarins did not even […]

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The Bank of Japan – Ringing in the Endgame?

The Bank of Japan – Ringing in the Endgame?  Let’s Do More of What Doesn’t Work It is the Keynesian mantra: the fact that the policies recommended by Keynesians and monetarists, i.e., deficit spending and money printing, routinely fail to bring about the desired results is not seen as proof that they simply don’t work. […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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