The Death Of The Virtuous Cycle

Most Ph.D. economists, including those at the Federal Reserve, have convinced investors, policy-makers and U.S. citizens that durable economic growth stems from debt-fueled consumer spending. This is not only a patently false claim, but it has immense implications for investors...

Fed's Bullard Slams Recovery Narrative, Confirms Fed Top-Ticked Economy; Hints At Fed Policy Error

In a surprisingly candid discussion of the recent economic slowdown, St. Louis Fed president said growth is unlikely “to move meaningfully” this year from the current trend of about 2% and that inflation expectations “have surprised to the downside.” adding that financial market readings since the March decision have been opposite of expectations. "This may suggest that the FOMC’s contemplated policy rate path is overly aggressive relative to actual incoming data."

Frontrunning: May 19

  • Dollar remains weak as beating eases for global stocks (Reuters); Global Stocks Edge Higher as Commodity Prices Rise (WSJ)
  • Trump Mideast Trip Aims to Bolster Ties, Shift U.S. Spotlight (WSJ)
  • Trump Heads Abroad With White House in Crisis (BBG)
  • Russia Probe Heats Up as Trump Tries to Limit Damage (WSJ)
  • Iranians queue up to vote in fiercely-contested presidential election (Reuters)

Bill Blain: "Take The Red Pill, And Let’s See How Deep This Rabbit Hole Takes Us"

"The bottom line is yesterday’s slight bounce back in what remain Risk-Off markets feel about as solidly supported as an alligator in the Washington Mirror Pond.If there is a theme to what’s really going on, its “tedious inevitability.” So, with due respect, “bear” with me (geddit? see what I did there?). Take the Red Pill, and let’s see how deep this Rabbit Hole takes us. "

Global Markets Rebound To End Volatile Week, As Trump Rout Fades

Two days after the biggest rout in US stocks in 8 months, and one day after Brazil's stock market was halted due to a circuit breaker, wiping out out 8.8% of its market cap, traders are eager to put it all in the rearview mirror and in a quiet session on the last day of the week, S&P futures are set for a green open, up 0.2%, in line with Asian and European markets, all looking to close the week on a positive note.

Mapping The World's Population

At the end of olast year, there were 7,418,151,841 people on our planet, and while many in America still believe the world revolves around them, this map shows the world resized by each nation's current population...

Venezuela: Forty Years Of Economic Decline, Part 1

While Chávez and his successor Nicolás Maduro deserve the brunt of the blame for Venezuela’s current economic calamity, the underlying flaws of Venezuela’s political economy point to much more systemic problems.

The Russian Obsession Goes Back Decades

What lots of Americans don’t realize is that what Trump has been enduring from the national-security establishment, the mainstream press, and the American right-wing for his outreach to, or "collusion with," Russia pales in comparison to what Kennedy had to endure for committing the heinous 'crime' of reaching out to Russia and the rest of the Soviet Union in a spirit of peace and friendship.