Historical Archives

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Secretary Kerry: Haircut In Search Of A Brain

     So, now we are threatening to start World War Three because Russia is trying to control the chaos in a failed state on its border — a state that our own government spooks provoked into failure? The last time I …

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NASDAQ 10,000 – Or Something

“Paranormal liquidity stimulus” leads to “paranormal activity” to deliver that “parabolic overshoot” in asset prices. And there is no bubble in sight, not even in the Nasdaq Biotech index, which is up a cool 375%. Mo...

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Extraordinary Popular Delusions

If you had told me in 2009 that in a few short years everyone would forget about the dot com bubble and the real estate bubble and go back to doing the things that got them into so much trouble, I would have laughed in your face.

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Tighter Capital Controls in Ukraine, Transaction Limit About $100; New Head of Ukraine's Navy Defects After 1 Day

Intent on stopping 'destabilizing forces' (runs on the bank), Ukraine's Privatbank Limits Cash Withdrawals, Loans.

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A Clean Kill of the Keynesian Demand Shortfall Error

The only way aggregate demand can exceed aggregate supply is if new credit is created, thereby enabling spending before income or consumption before production...

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Friday FOMC Memories: Wachovia and Bagehot

Despite the obvious disinterest from pretty much everyone in the media, I still find tremendous relevance and value in the 2008 FOMC. The entire year was spent in a comedy of errors

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Eurozone in Deflation; Monetarist Mouthpieces Will Scream

The true measure of inflation is credit expansion. And for the second month, credit contracted in the Eurozone.

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Yes the Government is Spying on You Through Your Webcam – Another “Conspiracy Theory” Proven True

I still remember many years ago in response to becoming aware of the possibility that my computer webcam could be accessed remotely I decided to put a piece of duct tape over the camera.

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Heavy Construction Exports Fell 25% But You've Not Seen Nothing Yet

Here is another illustration of the Great Deformation unraveling in plain sight. This particular Reuters story is typical of the bubble blindness of the mainstream financial press---of which Reuters is among the worst offenders.

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Further Behind

as the hope of QE magic and mysticism turns against the reality of shoppers growing ever-poorer (itself a full part of QE), what’s left is really a cleanup of so much misallocation.

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