Economy

Bill Gross' latest investment outlook is up at PIMCO and he echoes the theme everyone is now talking about - irrational exuberance. He goes into great depth, saying that we are at about 6 on a scale of one to ten when measuring asset price…

I was on BNN this afternoon talking to presenter Howard Green and The Economist's Ryan Avent about Fed Chairman Ben Bernanke's testimony before congress today. You can read Bernanke's prepared remarks here and watch the video clip here.…

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $34.7 billion in the fourth quarter of 2012, a $9.3 billion (36.9 percent) improvement from the $25.3…

The situation needless to say is very fluid and although the euro has stabilized, the threat to euro area stability is clearly evident in the debt markets where Italy's 10-year yields has soared 32 bp and the spread over Germany has widened…

Intense conflicts over water will probably not be confined to the developing world. So far, Arizona, California, Nevada, New Mexico, and Colorado have been able to make and keep agreements defining who gets how much of the Colorado River's…

According to Angela Merkel, speaking in the German city of Mainz in mid February, European countries struggling with the fallout of the euro-area debt crisis have much to learn from East Germany’s experience with economic overhaul…

For domestic investors, the safe haven asset class are government liabilities if the government has substantially all liabilities in the currency it creates. For foreign investors, like domestic investors, you want to protect against…

Moody's took away the UK's triple A rating late Friday. A ratings downgrade has long been rumored, and although the timing is always surprising, the move itself has long been anticipated. Sterling slumped on the news in thin dealings,…

Recent Bulgarian developments are worth discussing. Austerity just brought down another European government, as Prime Minister Borisov and his cabinet resigned this week amidst rising popular protests against his policies. But the story…

Eurozone policy seems driven by market sentiment. This column argues that fear and panic led to excessive, and possibly self-defeating, austerity in the south while failing to induce offsetting stimulus in the north. The resulting deflation…