The BRICS are making their move to shove aside the U.S. dollar (although their own troubles might interfere). The dollar dump is particularly timely in light of recent recognition that U.S. credit verges on junk status, and rates lower than…
What are the causes and consequences of expensive oil? The first question is posed in this article, and answered surprisingly well by a neoclassical economist. He understands the relationship between the price of oil and economic growth, and he hints…
The final nail in the global financial coffin was hammered into place this morning by the masters of the Eurozone. The trillion-dollar bailout Ponzi scheme to save Greece is yet another example of kicking the proverbial can down the road,…
Nine more banks failed last weekend, bringing the year’s total to 115. Along with the banks, one of the largest companies in the country declared bankruptcy, further evidence every large entity in the world will go down with energy availability. Small businesses are joining the fiesta, declaring bankruptcy like Zimbabweans, and the mother of all carry trades is headed for a collapse the size of hell and half of Montana.
It’s rally time on Wall Street. The Dow Jones Industrial Average eked out a positive day for the eighth day in a row to hit a year-long high amidst the longest streak since April of 2007. Before you get too excited about this bit of green-shoots news from the boys on murderer’s row, let’s consider the cause and consequences.