2014

The 2014 BIS Annual Report warns again about the perils of ultra-easy monetary policy as it did in the lead-up to the Great Financial Crisis. I think the BIS could prove a Cassandra here and will explain below. Nevertheless, many refuse to…

I have 30 links today instead of the usual 20. GM to Recall 7.6 Million More Vehicles in U.S. - WSJ Turkey rejects Kurdish independence, wants Iraq unity government, officials say | Reuters Russian stocks stage remarkable turnround -…

The title here is a bit provocative I know. But it is really something I stole from an article about Stephen Roach’s view that I will use as a jumping off point for my Friday review.

News links for 27 Jun 2014

I am not impressed with macro policy that is managed purely to give a cyclical boost to the economy at the expense of secular sustainability. That makes it hard to look at what’s happening with macro policy now without scepticism and…

News links for 26 Jun 2014

The last revision for Q1 2014 released today at 8:30AM was the largest downward revision since second and third revisions began in 1976. Instead of contracting at an annualized 1.0% pace, the economy contracted at a 2.9% pace. That is a…

After a number of years of stall speed growth, the US economy seems to be breaking out, even as the Fed has turned toward a tightening bias. As this cycle continues, we should not underestimate the ability of the US economy to continue…

U.S. consumer confidence rises in June | Reuters Calculated Risk: New Home Sales increase sharply to 504,000 Annual Rate in May Calculated Risk: Case-Shiller: Comp 20 House Prices increased 10.8% year-over-year in April Could Iraq Be…

Today’s post is about technology and the dynamics of market saturation. My contention over the past couple of years has been that the mobile market in developed economies was becoming saturated to the point that the economics of…