2011

World War II was the last war the United States fought with a formal declaration of war. The wars fought since have had congressional approval, both in the sense that resolutions were passed and that Congress appropriated funds, but the…

Here is a good 17-minute Bloomberg video with Marc Faber. He talks a lot about Mexico and he is bullish on that economy. As for the US, his view, like mine, is that printing money does give a temporary boost to economic activity. However,…

henever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form,…

M1 is the narrowest definition of money. It includes currency and coins, traveller's checks, and checking accounts (so-called demand deposits).  The chart below from the St. Louis Fed shows the relationship between base money that the…

I was on CNBC's Power Lunch yesterday talking about European debt markets in the wake of the Irish stress tests. I certainly think the Irish stress tests were a significant event. But the Euro Crisis is really all about Spain.

By Comstock Partners The massive U.S. debt problem that we have been discussing so often for many years has now become widely known both to investors and the general public. It has been a major topic of discussion in the media as well as…

In September 2008, the Federal Reserve let banks turn more than $118 billion in junk bonds, defaulted debt, and other securities into cash. The role of a central bank in a crisis is to act as a lender of last resort by helping market…

There are four ways to reduce real debt burdens: by paying down debts via accumulated savings. by inflating away the value of money. by reneging in part or full on the promise to repay by defaulting by…

By Win Thin With BRL breaking below 1.65 and KRW below 1100, it is tempting to suggest that EM policy-makers are becoming more willing to accept currency strength to help limit inflation. We’ve heard this many times before, almost every…

The results of the Irish stress tests are going to be released this afternoon at 430PM Irish time. I will be talking about the implications for investors in European markets on CNBC's Power Lunch show. I think one has to be cautious…