The Coming Oil Shock?
The cutback in exploration and even production, and the increase in demand as a result of the oil price crash will work slowly to rebalance the market, at a considerable. […]
Will The Eurozone Survive The Battle For Control Of The ECB?
The ECB was supposed to be completely independent from politics. While this was never realistic, the latest Greek debt episode is likely to produce some kind of culmination. This is […]
The New Greek Debt Plan Makes Sense
Greece isn’t proposing a reduction in outstanding debt through a clever debt swap. It’s proposing a reduction in debt load and a reduction of crippling austerity, which is exactly what […]
Much Better Than All The QE In The World
Years of quantitative easing and what do advanced countries have to show for it? Not a whole lot. A much better alternative was staring us in the face all the […]
And Now For The Greek Endgame
A new phase of the eurozone crisis is entering with a Syriza victory in Greece. A simple cost-benefit analysis shows that the rest of the eurozone would do better by […]
If Only The Countries In The Eurozone Periphery Were Like Germany
Often, the crisis in the eurozone is analyzed from a moral point of view in which virtuous German policies are juxtaposed against spendthrift peripheral countries. If only all eurozone countries […]
The Day The Central Bank Powers Came To An End
Central banks in the developed world have just about thrown everything and the kitchen sink at the forces of deflation, with fairly little to show for it. After the US […]
A Curious Swiss Victory
The Swiss central bank took everybody by surprise, but unlike Peter Schiff, we don’t see much ‘victory’ in their decision to stop pegging the franc against the euro. It’s not […]
Japan, A Failed Keynesian State?
It’s popular in certain circles to depict Japan as a sort of Keynesian failed state, plagued by by near insurmountable economic problems such as an insurmountable debt burden. But Japan’s […]
The Coming Euro Crash
It looks to be another difficult year for the eurozone, even if the lower euro and oil prices provide some much needed relief. Even if we manage to get past […]