The Problems with Facebook’s Libra ‘Cryptocurrency’ and Why They Won’t Matter
The rules of Libra are whatever the operators of Libra say they are.
Jim Grant: Fed Will Cut Tomorrow
“Is not the Fed now operating on the de-facto dual mandate of arsonist and fireman?”
S&P 500 Buybacks Now Outpace All R&D Spending in the US
Given the massive ‘investment’ corporations have made in their own equity, the need to sustain higher share prices with ever more buybacks creates a feedback loop that is drowning out real investment
Ed Hyman: As Clear of a Global Easing Cycle as You’re Gonna Get
“I think that biases financial assets up, actually all asset prices up”
Rick Santelli: Monetary Policy too Telegraphed
“…Introducing a little uncertainty will go a long way toward reducing bubbles…”
Italy’s mini-BOT Plan: Big Deficits, Soft Default
Italy continues to indulge in the fantasy that even bigger deficits and a worthless new currency will save it
Luke Gromen: Fed Will Cut to Finance Deficit, Not Because of Weak Economy
“I don’t think it’s fully appreciated yet that the reason that markets are pricing the Fed is going to cut rates so aggressively in the back half of this year has nothing to do with the economy”
In Brief: Which Countries Produce the Most Fossil Fuels
The United States is the largest producer of fossil fuels in the world, producing roughly 20% of the world’s fossil fuels
Daniel Lacalle: Slowing Economy More About Capital Misallocation Than Tariffs
“The weakness of both the Chinese and and the Eurozone economies have absolutely nothing to do with trade wars”
Post Financial Crisis Has Seen the Largest Increase in Commercial Indebtedness on Record
Someday the piper will have to be paid