For Episode 74.0 of Eurodollar University’s Making Sense, Emil and I were incredibly honored and thrilled to have been able to bring on Allison Fedirka from Geopolitical Futures, the outfit of George Friedman fame. Specifically, we were interested in her specialty which is Latin America because after China that’s where you want to go next to understand how developments money [...]
This past weekend saw many occasions around the world mark the 200th anniversary of the birth of Karl Marx. Rather than lament the rise of one of the most destructive influences of the modern world, most if not all were quite celebratory. The much-loved philosopher, especially in academic circles, has for his followers given them an outlet for revival. It [...]
Friday’s payroll malfunction makes a perfect backdrop for the latest Marxism revival. It has been a constant feature of this “recovery”, perfectly reflecting the labor realities of this “cycle” where financialism would be savaged from either end of the traditional political scale. As the tea party reflected the more libertarian, capitalist tradition against concentrations in banking and central planning, Occupy [...]
It’s mostly accepted that what a central bank does is no more inconsistent with capitalism than what you and I do on a regular basis. There are various reasons for this self-inclusion which should be disqualified based on common sense alone, but monetary theory is, by intent, impenetrable beyond the few indoctrinated in its ritual mathematics. This isn’t to say [...]
For anyone not familiar with Jude Wanniski’s 1978 book The Way the World Works, it offers a surprisingly simplistic premise about political preferences and voting patterns. In almost every case, elections break down to a governing conflict between income growth and income redistribution. The majority of people want economic growth and will vote in whatever form they think will best [...]
I quoted Janet Yellen’s statement from her first press conference yesterday, but it bears repeating: These sizable and still increasing holdings will continue to put downward pressure on longer‐term interest rates, support mortgage markets, and make financial conditions more accommodative, helping to support job creation and a return of inflation to the committee's objective. We saw new home construction data [...]
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