A new report pegs U.S. public pensions’ unfunded liabilities at nearly $6 trillion as of 2018. That amounts to a whopping $18,300 per U.S. resident.
A new report pegs U.S. public pensions’ unfunded liabilities at nearly $6 trillion as of 2018. That amounts to a whopping $18,300 per U.S. resident.
Last November, Fed Chair Jerome Powell said interest rates were "just below the broad range of estimates of the level that would be neutral for the economy.” This was the excuse for the central bank's monetary policy 180 and set the stage for the "Powell Pause."Central bankers are perpetually on a quest to find the elusive neutral interest rate, but in fact, it's an impossible goal, as economist Frank Shostak explained in an article published on the Mises Wire.Basically, the Fed is chasing unicorns.
Despite last Thursday's "pull-back", "take-down", or whatever you want to call it, the wave is now complete. Here are the details...
Japan, sadly, stands as a stark reminder of the economic damage that can be done by clinging to an idealized past rather than preparing for the future. If Trump wants to copy Japan, he should mimic its recent reforms, not its past missteps.
“The fact that central banks and the official sector are diversifying their reserves, I think, is a very positive statement for the sector,”
Yesterday was tax day. We'd like to think the money we hand over to the IRS is paying for stuff - things like roads, education and national defense. But an increasing number of tax dollars are simply going to pay interest on the national debt. According to Committee for a Responsible Federal Budget president Maya MacGuineas, the average taxpayer forked over more than $2,000 this year just to cover their share of the interest on the national debt.In other words, we're not paying for stuff today. We're paying for the spending of the past.
The trend toward less accommodative financial market conditions has reversed this year, as the Fed moved to the sidelines, an IMF chart shows.
A fresh injection of liquidity by the Chinese central bank and positive expectations in Germany boosted markets Tuesday.
Frauds that involve convincing taxpayers to pay up, which often start with a series of bothersome robocalls, rose 242% in 2018.
Benjamin Franklin: “Nothing is certain except death and taxes.”
It's been a while since Mike Maloney has given an update on the 'Death Of The Dollar' as the world's reserve currency. Join him today for a look at some important events that are unfolding right now.
ECB President Mario Draghi said over the weekend there were signs that these factors were waning, even if political uncertainty loomed large.
The Fed will have arguably less firepower than in any previous recession. Consider its ability to stimulate growth by lowering interest rates. In the early 2000s, when the tech bubble burst...
The Bank of Japan should stop buying exchange-traded funds as the purchases will ruin the stock market’s ability to allocate capital efficiently
The ratio is telling us one of two things, but with silver's price action lately, it seems the white metal isn't getting either message. Keith explains...
Grant calls stock market & interest rate rigging "very near to a crime", but Grant never has anything to say about the rigging of the gold market...
Gold may be overshadowed by the monster stock market rally, but gold has been quietly consolidating for the next challenge. Here are the details...
Gold may have been whacked, but the miners are looking good, and they're giving off bullish signals in the charts. Here are the details...
Gold continued to soften last night, trading in a relatively narrow range of $1284.75 - $1291.35. It tripped some selling below its 100-day moving average at $1288 that took it to its low, but support ahead of $1284...