A U.S. federal court ruled in favor of Facebook on Monday, dismissing antitrust complaints brought forward by the Federal Trade Commission and 48 state attorney generals. The complaints argued that Facebook was illegally maintaining a monopoly in the m…
Ranking countries by the size of their economies and their overall net wealth, the U.S. can be found ahead of China, usually followed by the UK, Japan, India or Germany. But sorting countries for their per-capita average wealth – or even for their medi…
The rapid spread of the Delta variant has led to countries around the world scrambling for new travel bans to stop the COVID-19 virus mutation. Hong Kong, Spain and Portugal restricted travel from the UK yesterday, while Germany had already curtailed e…
100 years ago, the rise of Communism started in China, but that is a long time for things not to change. Despite the ruling Chinese communist party celebrating the 100th anniversary of its founding on July 1, the private sector is the driving force beh…
Consumer complaints about digital wallets and mobile payment apps have been surging as more and more Americans ditch cash, according to a recent report from the U.S. Public Interest Research Group. The Consumer Financial Protection Bureau (CFPB) receiv…
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
The Fed’s “choice” is as illusory as the “wealth” the Fed has created with its perfection of moral hazard.
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
Freedom is the freedom to say that two plus two make four. If that is granted, all else follows. George Orwell, 1984 I have said many times and believe deeply that our job as investors is not to predict the future but merely to interpret the present as accurately as we can. I’ve also said […]
There is a monumental flaw in contemporary central banking doctrine, one not debated and seemingly not even recognized: it is perilous for central banks to manipulate the securities markets as their chief mechanism for managing financial conditions.