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Why the 1787 Constitution Did Not Bring Republican Government to AmericaFeb 10, 2023 - 12:38:53 PST
One of the many myths that schoolchildren are taught in the name of American exceptionalism is the idea that the Americans finally embraced a republican form of government at the Constitutional Convention in 1787. This, we are told, was revolutionary.
Are asset inflation and its bellwether, the euro, really heading into a new spring following a winter marked by the now-fading scare of Fed disinflation (alternatively described as “restrictive monetary policy”)? A computer powered by artificial intelligence might well conclude so, based on reading a million websites.
Feb 10, 2023 - 12:31:39 PST
FT: Baupost chief Seth Klarman warned last year’s sell-off ‘probably has further to go’ and that a sovereign debt crisis could lie ahead. Seth Klarman has told investors in his hedge fund that the Federal Reserve’s response to the 2008 financial crisis and the ensuing decade-plus of low interest rates had helped “erect a financial fantasyland”.
Consumers continue to absorb significant price increases by PepsiCo, Unilever and others. The companies say prices will remain high in the months to come.
There might be $1.6 billion in unreported tips out there, and most of that was probably collected by people who don't have an accountant on retainer.
"Will Congress actually cut spending? History suggests not. Economic historian Robert Higgs invented the term 'ratchet effect' to describe the way that government growth after a crisis tends to be locked in: the size of government never retreats to what it was before the crisis." ~ Jason Sorens
Today's Anti-Capitalists Want to Regulate What You Can Eat, How Often You Drive, & Where You LiveFeb 10, 2023 - 11:58:10 PST
It may sound cruel to say so, but such thinking closely mirrors that of the Khmer Rouge in Cambodia.
Feb 10, 2023 - 11:53:05 PST
Foreign Policy asks Are U.S. Sanctions on Russia Working? The debate is between Agathe Demarais, author of Backfire: How Sanctions Reshape the World Against U.S. Interests; and Nicholas Mulder, author of The Economic Weapon: The Rise of Sanctions as a Tool of Modern War.
Anybody who seriously thinks that Universal Basic Income (UBI) programs of the future won’t be full blown social credit systems need look no further than Brazil, where newly selected socialist / globalist Lula da Silva just decreed that the Bolsa Familia program will require family members to be vaccinated in order to continue receiving benefits.
Feb 10, 2023 - 11:42:00 PST
Part 2 of a Two-Part Look at: 1. Principles for Navigating Big Debt Crises, and 2. How These Principles Apply to What’s Happening Now.
Feb 10, 2023 - 08:37:18 PST
Biden’s State of the Union address saw him bragging about his record job creation (actually, it was the private sector, not Biden than created jobs) and historic unemployment rate. What Biden…
Russia's finance ministry said will reset the share of euro in its National Wealth Fund (NWF) starting from this year, leaving only gold, Chinese yuan and rubles, Russian media reported on Thursday.
Republicans on the House Budget Committee recently unveiled potential areas of spending the party could target as a battle over raising the nation’s debt limit heats up Capitol Hill. The Repu…
Feb 10, 2023 - 08:07:02 PST
“We don’t know, for example, who’s using a $100 bill today and we don’t know who’s using a $1000 peso bill today. The key difference with the CBCD the central bank will have absolute control on the rules and regulations that will determine the use of that expression of central bank liability, and also we will have the technology to enforce that.” ~ Agustin Carstens–General Manager, Bank for International Settlements...
Feb 10, 2023 - 07:17:32 PST
Get ready! The mad dash for metals is here! Copper set to be most valuable opportunity in race to net zero Electric vehicles and wind turbines are main demand drivers...
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Bullish investors continue to "Fight the Fed," hoping that a change to monetary policy will reignite the 12-year-long bull market.
Talking of capital flows, yesterday US yields rose again and the 2s -10s yield curve spread widened to most since the early 1980s, at one point reaching 86bps – and that is with the 2-year yield still 100bps lower than the 5.50% terminal rate that our Fed watcher Philip Marey now has penciled in for this year. However, things can get worse.
Despite continued rate rises from the US Federal Reserve, gold prices are recovering as other central banks around the world buy up the precious metal and investors foresee softer rate hikes.
Physical gold buyers in some Asian hubs were drawn to a dip in domestic prices this week, while central bank demand kept premiums firm in China. Local gold prices in India hit as low as 56,496 rupees per 10 grams from an all-time high of 58,826 rupees climbed last week. Demand from jewelers and retail consumers has improved because of the price correction...