Most, if not all, of the deficit nations that make up the Bretton Woods II edifice and subsequent global imbalances have seen notable housing and construction bubbles as part of their path towards excess leverage. The demand for housing and thus in some sense construction on the aggregate macroeconomic level can be tied . . . → Read More: Demographics, Housing, and Global Imbalances
It’s always been true, over and over, that corruption is always at its maximum at the end of long booms powered by an expansion of money.
In the old days, before America lost its collective mind and allowed a fiat currency, government spending was pretty much fixed because the money supply was fixed by . . . → Read More: Government Funded Businesses: Going Where the Money Is
At 8:30 AM EDT, the GDP growth rate figure for the fourth quarter of 2009 will be released. The consensus estimate is an increase of 5.9% in real GDP growth and an increase of 0.4% in the GDP price index.
At 9:55 AM EDT, the latest Consumer Sentiment Index will be released. The index . . . → Read More: Today’s Economic Events