Once again the mainstream media boohooed over a false and misleading seasonally falsified industrial production number, bemoaning that the SA number was down 0.4% month to month in May. They are playing into the Wall Street mob’s desire for manna from Ben next week. It’s totally bogus, supported only by false and misleading SA data, not the real activity.
Businessweek argues that the European crisis is hurting the US economy. It ignores ignores the fact that European capital flight is driving US interest rates…
SYDNEY (MarketWatch) — The standard narrative states that Germany does not want to bail out troubled peripheral nations within the euro zone. The reality is…
AS problems mount in the euro zone, it’s increasingly evident that we’ve been witnessing an institutional failure of monumental proportions. … The continuing crisis has…
From the excellent Binyamin Applebaum at the NY Times: One part of the economy that’s growing rapidly is the Federal Reserve. These are boom times…
Economists warned that the Greek financial system could crumble within weeks or days unless the European Central Bank steps up support. President Karolos Papoulias told…
The composite liquidity indicator downticked last week on small declines in most of its components. We know that the downtick in the Fed’s pumping to…
It looks increasingly likely that Greece will have to implement controls to prevent capital flight and a banking collapse. To my mind, the only real…
There is a curious story in the Swiss press today. On the surface it appears innocuous.
Paper money has been in transition for the last ten years. Most of the big issuers of paper have updated their bills to minimize forgery. The US has spent a …
The Treasury rally got some help this week from a surge in Federal Withholding Tax collections that is helping to keep new supply down. Whereas…
