The only solution for the surplus of workers with law degrees is a massive, permanent reduction in the issuance of new law graduates.America is in the opening stages of a massive surplus of over-credentialed workers. The default setting for 50 yea…
Take a declining population with declining rates of productivity growth and load it up with debt, and you get a triple-whammy recipe for permanent stagnation.One of our longtime friends in Japan just sold the family business. The writing was on th…
once a nation no longer produce essential goods and services, it becomes vulnerable to collapse.By now, we all know what’s happening in Venezuela: hyperinflation, empty stores, a regime in denial. The Trajectory of Venezuelan Hyperinflation Looks …
It was fun playing Masters of the Universe when expectations were low.Ah, the good old days, when a simple, completely empty promise to do whatever it takes could move the world. It was fun being a central banker back in the good old day…
The fundamental context of China’s economy is that it has traced out an S-Curve–as did previous fast-developing nations such as Japan and South Korea.
By making the stock market the only game in town, the Powers That Be can no longer afford to let it decline for any reason. Market technicians have long observed that the holes in charts left when markets gap up or down at the open of trading almost in…
Bernanke blew it big-time, letting the “recovery” run seven years without any significant increase in rates.It is now painfully obvious that Ben Bernanke blew it big-time by not raising rates three years ago when the economy and markets enjoyed tailwin…
Friday’s US payrolls report, which to a large extent represents a latent effect of the US dollar rally over the past couple of years, was dismal. On a relative basis, hiring Americans has become more expensive for global firms. An elevated level of unc…
This is the market we have now: dominated by delusional, irrational central planners with unlimited powers to create money out of thin air to fund their manipulations.
