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Despite the city's well-documented financial woes... "Pension challenges are the biggest challenge facing the city and the primary reason we have the city rated below investment grade," says Moody's Investors Service...
    ECB's Knot Says Low Rate Policy Risks Becoming
Dec 23, 2019 - 04:58:38 PST
Interest rates in the euro zone could remain historically low for years, but the...
Mr. Volcker certainly deserves credit for curbing the Great Inflation of the 1970s, however, he also merits a lion’s share of the blame for...
It's very likely that we'll see much lower gold prices before we see much higher prices. Here's why...
Mid-tier primary gold miners with good free cash flow margins and good balance sheets are being aggressive either buying "non-core" assets, or...
    Medieval Coins Declared Treasure
Dec 20, 2019 - 12:46:32 PST
The five gold and silver coins found in Grosmont were unearthed by Mark Hackman. They were minted in London between 1344 and 1369.
2019 was the year gold finally broke out of its dismal trading range. 2020 offers the same upside as real interest rates fall.
The Senate sent President Donald Trump two spending bills Thursday that would provide $1.4 trillion to fund the U.S. government through September and avoid a shutdown on Saturday...
Home Prices Still Less Affordable Than Historic Averages in 49 Percent of Local Markets, Down from 72 Percent a Year Ago...
Japan’s government tries to balance the need to boost growth and manage the industrial world’s heaviest public debt burden.
It’s not the consumer.
    No Improvement in Corporate Profits Since 2012
Dec 20, 2019 - 12:04:42 PST
The BEA tells us today that Corporate Profits are down 1.1% from a year ago. Profits are below a level reached in 2012.
    How Wall Street and the Fed Got 2019 Wrong
Dec 20, 2019 - 11:42:22 PST
Wall Street and the Fed thought there would be two rate hikes in 2019. Instead, the Fed cut rates by 75 basis points.
    The Jobs Market Isn't as Healthy as It Seems
Dec 20, 2019 - 10:56:48 PST
We have, in other words, replaced most of our highest quality jobs not merely with lower quality jobs, but with lowest quality jobs.
    Banks Are Impossible for Anyone to Understand
Dec 20, 2019 - 10:28:48 PST
A simple lesson we should have learned from the financial crisis is that complexity begets abuse, and undermines stability. Yet the key measure we use to determine banks’ health is so fiendishly difficult to understand that outsiders have no choice but to accept what we’re told by the lender.
The promise to European taxpayers after the financial crisis was simple: No longer would they be the first to be asked to rescue failing banks; instead, investors should pick up the bill when a lender goes down.
    Lying About Inflation Won’t Make It Go Away: Ron Paul
Dec 20, 2019 - 10:18:42 PST
Politicians are notorious for being professional liars. They lie about wars, the economy, about other politicians, foreign leaders, following the Constitution. Would it be a stretch for them to lie about inflation too?
...the seasonal pattern does not end at the turn of the year, but actually continues at the beginning of the year...
    A Path Toward Getting Rid of Social Security
Dec 20, 2019 - 08:40:38 PST
No, UBA for liberty isn’t another fun holiday idea, it is a call to consider a Universal Basic Asset (UBA) program designed to protect Americans’ liberty and transition away from Social Security. It is nice to see classical liberal thinkers like Mike Munger chiming in on Universal Basic Income...
I love this season. In my never-to-be-humble opinion, Christmas really is "the most wonderful time of the year." I love the songs. I love the decorations. I love the food. (A little too much, as the scale will confirm on Jan. 1.)
I also love the memories. And now I'm going to wreck one of yours. I apologize in advance.