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Olduvai III: Catacylsm
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RBC Explains What The Hell Is Going On: “Prudent” Fed & Chinese Intervention

RBC Explains What The Hell Is Going On: “Prudent” Fed & Chinese Intervention A “prudent” Fed (and China’s “National Team”) have spurred a risk-on rally, as RBC’s head of cross-asset strategy Charlie McElligott notes the market’s ‘Pavolovian’ response to Fed’s ‘dovish hints’ contained within the Minutes – despite simultaneously staying ‘on message’ with hiking / tapering […]

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Japan Desperately Needs a Stronger Dollar, China Desperately Wants a Weaker Dollar: The Fed Can’t Please Both

Japan Desperately Needs a Stronger Dollar, China Desperately Wants a Weaker Dollar: The Fed Can’t Please Both The FX market is about to blow up in the Fed’s face, and there’s nothing they can do about it. Foreign exchange (FX) is a zero-sum game: if one currency weakens, another must strengthen. Since the value of a […]

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The Fallacy that Weakening Your Currency Generates Prosperity

The Fallacy that Weakening Your Currency Generates Prosperity  Those demanding that the purchasing power of the currency be devalued are impoverishing everyone who holds the currency. Of the many economic policies that are accepted as true yet are absolute nonsense, perhaps none is more achingly nonsensical than the notion that weakening a nation’s currency will […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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