The Economist

How "Amerexit" Sent Shockwaves Through Financial Markets

Britain's decision to leave the European Union may have sent shockwaves across the financial community; but it was not the first 'difficult divorce' they have faced. The Kingdom of Great Britain saw a different kind of Brexit 240 years ago: the American revolution... and "Amerexit" brought its own wave of chaos, that lasted for a decade.

Who's Most Afraid Of Contagion From Italy's Bank Meltdown?

Contagion is the reason Italy’s banking crisis is all of a sudden Europe’s biggest existential threat. Greece’s intractable problems are out of sight, out of mind; Brexit momentarily spooked investors and bankers; but Italy’s banking woes have the potential to wipe out investors and undo over 60 years of supranational state-building in Europe.

Deutsche Bank's Chief Economist Calls For €150 Billion Bailout Of European Banks

David Folkerts-Landau, the chief economist of Deutsche Bank, has called for a multi-billion dollar bailout for European banks. Speaking to Germany's Welt am Sonntag, the economist said European institutions should get fresh capital for a recapitalization following a similar bailout in the US. What he didn't say is that the US bailout took place nearly a decade ago, in the meantime Europe's financial sector was supposed to be fixed courtesy of "prudent" fiscal and monetary policy. It wasn't.

The Prospects For Money

"In my view, this new bout of turmoil in financial markets is the prelude to the final demise of government currency..."

Silicon Valley Snake Oil

If you wanted a more clear example of why people have not only left this "market" along with many of the business/financial media outlets, this interview just about says it all. You can replace every-time he said "Theranos" with "current monetary policy" and "Ms. Holmes" with "Chair Yellen" and the narrative and storytelling would be about the same.

Why Trump Is Routing The 'Free Traders'

"The returns from free trade are in, and the results are rotten....Is what is best for the world now more important than what is best for America?"

Burning Down The House

It is a little-understood historical fact that each nation has a shelf life. After a nation has peaked and a majority of the people have traded in their work ethic for the undeliverable promise of ever-increasing governmental largesse, the decline is set in stone. When this has taken place, it’s not only the work ethic that’s in a terminal decline. The nation heads inexorably downward in other ways...

'X' Marks The Spot - Wages Started Losing When The Dollar Delinked From Gold In 1971

At “X” Marks the Spot, "[s]omething happened," and the wages of goods-producing workers flatlined, never to recover. As it happens, “X” correlates with Nixon shutting down the Bretton Woods gold standard in 1971 and the epic failure to get it fixed and restored in 1973. The drag, after a modest lag, filtered into the working economy. The rest is persistent stagnation for median families.

Free Speech Under Attack

Speech is either free or it isn’t. One cannot have it both ways, as the EU apparatchiks apparently think. As soon as restrictions on free speech are introduced, abuse is sure to follow.

Steve H. Hanke's picture

Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

 

Most press reports about Zimbabwe’s fantastic hyperinflation are off the mark – way off the mark. Even our most trusted news sources fail to get the facts right. This confirms the “95 Percent Rule”: 95 percent of what you read in the financial press is either wrong or irrelevant.