Into the Wild
Whatever else can be said about it, this must be one of the most interesting and entertaining chapters in the history of central banking.
Macroeconomics: Global Central Banks News & Highlights
This Brave Ahab
By our reckoning, US stocks are about US$25–30 trillion overvalued. Typically, around 80% of GDP, the Wilshire 5000, which captures all US publicly traded equities, is now almost at 200%.
The Debt Disaster
China is in a debt bubble worse than even Japan or the US. The extent of this debt bubble is obscured by the fact that trillions of dollars of debt are pushed down by the central government in Beijing
Tidal Forces
There was so much going on these last couple of weeks. It was easy to get waylaid or delayed. Each headline demanded attention. Was it important? Or just more nonsense?
Time to Sell!
he Fed has not yet recognised the magnitude of its errors. It kept interest rates too low for too long, failed to see rising inflation, failed to realise that it was not ‘transitory’, and then failed to take any serious steps to stop it.
The Flow of Power
The great Potomac of power and resources continues flowing — toward Washington. Joe Biden has just proposed the biggest tax increase in history.
