Must Read

Economic and and financial news and analysis

The Cult Of Central Banking Is Dead In The Water

CPI, PCE and Reality - Click to enlarge

The Fed has been sitting on the funds rate like some monetary mother hen since December 2008. Once it punts again at the June meeting owing to Brexit worries it will have effectively pegged money market rates at the zero bound for 90 straight months. There has never been a time in financial history when anything close to this happened, including…

What Comes Next——Krugman’s Fiscal Equivalent Of War

Somebody must have reinstated Paul Krugman’s passport. He was recently back in Japan to meet with the world’s leading economy-wrecking triumvirate —-Prime Minister Abe, BOJ Governor Kuroda and Finance Minister Taro Aso—–to dispense some desperately needed advice. Japan is on the verge of a second recession during Abe’s tenure despite his plunge into full frontal Keynesian stimulus.  But since…