Daniel Lacalle: More Fiscal Stimulus Will Not Solve Europe’s Economic Problems
“One thing that we have learned in the European Union is that revenue measures don’t work”
Fed’s Balance Sheet Exceeds $7 Trillion for First Time in History
QE-Infinity marches on…
Chart: Oil Prices Since 1986
Early anecdotal signs from China suggest that the desire to avoid public transportation may be more impactful than declines in commuting
Matthew Paris’s Map of Britain from the 13th Century
81 cathedrals and monasteries, 41 castles, and 33 ports
Steven Davis: 42% of Layoffs May Be Permanent
‘They’re getting paid twice as much for unemployment benefits as they were paid to work. You don’t need a PhD in economics to figure out that that is a very strong disincentive for going back to your old job’
Jim Rogers: Commodities Are Only Cheap Asset Anywhere
“I look at all asset classes, all countries, and everything, and the cheapest asset class I see right now are commodities”
Map: The World, If You’re a Fish
A map of the world, from the perspective of a fish
Ed Hyman: Really Bad to Better
Things could go terribly wrong, but everyone knows that, including the Fed
Image: The Next Crisis
‘National Debt Hole’
El-Erian: Fed Is Doing Quasi-Fiscal Operations by Buying ETFs
“They cannot clearly separate between what is a fiscal operation and what they are doing now, which is quasi-fiscal operations.”