Correspondent Bart D. recently speculated that the U.S. stock market was now “too big to fail,” that is, that it was too integral to the…
United States Treasury security
The Chinese are in the process of displacing the monopoly of the US dollar. They are dropping their US Treasury bonds, stockpiling gold reserves, and…
On Tuesday evening, we asked what would happen if emerging markets joined China in dumping US Treasurys. For months we’ve documented the PBoC’s liquidation of its vast…
The conventional wisdom is that no other currency in the world can support the global bond market save the US$ Toilet Paper Money. Therefore, we…
The world is awash with “promises”. Nearly everything we think of as having “value” is because of a promise behind it. A few examples; your…
The large transportation funding bill moving through the Senate would end Social Security benefits for 200,000 people who have an outstanding felony arrest warrant—but have…
Worse than any disease or even leprosy, anyone spouting Austrian economics or even “common sense” (almost extinct today) has been shoved into the outcast corner…
Bigger is not always better. As Wall Street banks and big box stores such as Walmart have shown, bigger is often worse. The list of…
The title is of course a little misleading because China has many options, none of which except one in my opinion will actually work. Options…
The instability of the global financial system and the potential for another crash have been underscored by a major sell-off of government bonds this week.…
The stock market has recovered sharply from the lows hit in the financial crisis. All the major indices are at or near record highs. This…