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Olduvai III: Catacylsm
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Is Tunisia the next emerging market to implode?

Is Tunisia the next emerging market to implode? Seems like every few days a new developing country discovers that it can’t pay back the dollars and/or euros it borrowed back when “external foreign currency debt” seemed like a good thing. Next up: Tunisia, apparently. From today’s Wall Street Journal: Nation That Sparked Arab Spring Finds […]

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Really Bad Ideas, Part 6: Money That “Rots And Rusts”

Really Bad Ideas, Part 6: Money That “Rots And Rusts” In the next downturn (which may have started last week, yee-haw), the world’s central banks will face a bit of poetic justice: To keep their previous policy mistakes from blowing up the world in 2008, they cut interest rates to historically – some would say […]

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Central Banks Ready To Panic — Again

Central Banks Ready To Panic — Again Less than a decade after a housing/derivatives bubble nearly wiped out the global financial system, a new and much bigger commodities/derivatives bubble is threatening to finish the job. Raw materials are tanking as capital pours out of the most heavily-impacted countries and into anything that looks like a […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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