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Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). "igher stock prices will boost consumer wealth and help increase…

China reported an October trade surplus of $27 billion Wednesday. This is a very big number and not one likely to soothe anger directed at China. It will be very hard for China credibly to argue that it is trying to contribute to global…

The heads of state of the world's twenty largest economies are set to meet in Seoul, South Korea to discuss the global economy. The so-called currency war will be of particular interest during this session because of an escalation in…

Andy Lees of UBS writes that quantitative easing is having the (designed) effect of diluting and transferring US debt elsewhere. It is already a success. In a morning note he tells us: Yesterday Saudi shifted its oil price target…

by Michael Hudson, President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of…

by Michael Pettis The seemingly imminent and inexorable rise of the renminbi as a major, even dominant, reserve and trading currency, has been almost as widely heralded as the equivalent rise of the Japanese yen just twenty years ago. Even…

Here's a good discussion of what liquidity traps are from John Hussman. His weekly market commentary begins: "There is the possibility... that after the rate of interest has fallen to a certain level, liquidity preference is…

Highlights The dollar continued to edge higher through the Asian session, even making ground against the yen. EUR/USD slipped back towards $1.39, erasing the gains from the North American session, ahead of Germany’s ZEW report out later…

by Edward Hugh For reasons which aren’t worth going into now, I’m reading through a recent report by Deutsche Bank Global Markets Research entitled “From The Golden To The Grey Age” this afternoon. The report (all 100 pages of it, many…

(video embedded below)     See Stiglitz's written remarks here: Source: Joseph Stiglitz - The Federal Reserve’s Relevance Test - Project Syndicate