Politics of the Monetary Noose
In June 2015, Pew Research Center conducted a poll of citizens in European countries in order to gauge public sentiment of the European integration project. They found what they thought was a rebound in favorability. [...]
Liquidity And Risk
The real nature of liquidity is not what you see today but what we might find when the going gets tough. Though it is an intangible concept (not that that hasn’t kept economists from trying [...]
Bi-Weekly Economic Review
Economic Reports Scorecard While everyone was focused on the potentially negative impact of Brexit, the Census Bureau was reporting evidence of actual economic weakness in the form of the durable goods report. The report was [...]
Keep Calm And Carry On
A pretty wild day for the markets today after the UK voted to leave the European Union. Well, actually, it was just a referendum and non-binding but ignoring the will of the voters is not [...]
Durable Goods Add To The Idea of Depression (Small ‘d’)
There wasn’t anything new or surprising in the advance durable goods report. Shipments (ex transportation) were flat and orders were up 1% year-over-year (NSA). Capital goods (non-defense, ex aircraft) shipments fell 3.4%, the tenth straight [...]
Back To Our Regularly Scheduled Programming (UPDATED)
It was a nice diversion while it lasted, I suppose. From the moment of the unfortunate murder of the British MP, funding markets, in particular, had been furiously “selling dollars” to get back some of [...]
Secular Stagnation Is Eurodollar Stagnation
Last week, the St. Louis Fed published an article based on a speech that Dr. Larry Summers gave to the Homer Jones Memorial Lecture series back in April. The article included the full text of [...]
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