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"The deflationary potential is historically large... we risk overwhelming deflation in every corner of the globe." - Conquer the Crash (2002)" Virtually everyone - and I do not use that word lightly - believes that inflation will accelerate. Stock-market bulls think that the economy is going to boom, bringing inflation. Economic bears expect an inflationary, if not hyperinflationary, monetary crisis. Economists believe that the Fed can inflate at will and is committed to an inflationary policy. The general population is convinced that prices of their homes and property can only go up. The few articles mentioning deflation in recent months...

<p>An Interview With Hugh Hendry -- As you enter the Odey Asset Management conference room in London, you'll see a large painting of a fog-enshrouded skiff that a lone figure is piloting toward a dull and faraway light. It goes a long way to explaining the firm's attitude toward investing. Hedge-fund manager Hugh Hendry happily concedes that he's an apostate from fundamentalism, uses technical analysis liberally, and hasn't met with a company management in "five years, thank God." The Scotsman with Glasgow working-class roots admits to having no friends beyond the Reuters mini-terminal he carries in his pocket. He eschews the focused-fund approach and what he calls Taliban-like fundamentalism in the market.</p>

There seems to be some natural cycle to the way societies, and even families, think about money - not seasonal, as Eric explains below, but epochal. It is not so much an economic cycle...as a moral one. At first, early in the cycle of wealth building, people are careful. They work hard and save as much as possible. Americans once saved 20% of their incomes. Even after WWII, they saved more than 10%. Now, in the degenerate phase of American capitalism, the figure for net national saving is less than 1%. The Chinese, apparently just setting out on the road...

Home  l  Broadcast  l  WrapUp  l  Storm Watch  l  Perspectives  l  Sitemap  l  About Us The Barbarian at The Gate 'Barbarous Relic' Sounds Death-Knell for Keynesiansby Alex Wallenwein, Editor & PublisherThe Euro vs Dollar Currency War MonitorDecember 22, 2003 The following Reuters news item is outstanding in itself. Probably one of the best examples of financial news reporting I have seen so far. The reporter, Daniel Bases, is not afraid to say the unspeakable: that what normally counts as the accepted perspective of economic analysis - Keynesian analysis - is at a complete loss to explain the current phenomenon...

Home  l  Broadcast  l  Market Monitor  l  Top 10  l  Storm Watch  l  Sitemap  l  About Us Today's WrapUp by Mike Hartman 12.03.2003  Mon   Tue   Wed   Thu   Fri   Archive The Jury is Still OutStocks opened higher this morning in anticipation of a good report for the U.S. Service Sector and a positive report on productivity gains from the Labor Department. The Dow Jones Industrial Average moved about 60 points higher in the first half-hour since economists had forecast the ISM Services Index to come in with a reading of 64.5 following October’s reading of 64.7. The actual number was...

For education and discussion only. Not for commercial use. Although warnings about the crisis engulfing American manufacturing have been intensifying for months, the sector´s woes continue to be significantly underestimated – certainly by official Washington and even by many manufacturers themselves.  In fact, despite the current boost in growth fueled by deficit spending, tax cuts, mortgage re-financings, and other one-time stimuli, the decline of American manufacturing is fast nearing the point of irreversibility – at least from the standpoint of restoring a critical mass of industries producing in the United States to world leadership. The nation, in short, faces a...

The Greatest Depression is Coming. That’s no exaggeration. It will be worse in many respects than the Great Depression of 1929-1939. But those who are prepared will prosper. The First Signs Are Already Here The most noticeable sign is in unemployment. Sure, the official unemployment rate is low as of the time of this writing (5.7%), but the standard used to measure unemployment is seriously flawed. For example, that standard does not include “discouraged” workers; that is, those who have given up looking for work. It also doesn’t include the “underemployed,” who are highly trained but can’t find jobs in...

Since the end of the Bretton Woods agreement in 1971, the dollar has been an irredeemable currency, no longer defined or measured in terms of gold.  Nonetheless, in an ironic twist, it has become the world’s dominant currency and the core reserve asset of central banks all over the world. It has replaced gold as an international currency.  The transformation has not happened without consequences. One of these is that the discipline imposed by the gold standard is no longer operative. Another consequence, related to the first, is the profound effect this has had on international trade. The Discipline of Gold In the...

For education and discussion only. Not for commercial use. America's high-tech industry lost 540,000 jobs in 2002, with employment dropping to 6 million, according to a study by AeA, the nation's largest high-tech trade association. But AeA projects high-tech job losses will slow to 234,000 this year. Electronics manufacturing accounted for more than half of the high-tech jobs lost last year. But for the first time in the seven years that AeA has prepared its Cyberstates report, the software industry declined instead of grew -- cutting 150,000 jobs last year. All but three states -- the District of Columbia, Wyoming...

For education and discussion only. Not for commercial use. Mexico City, decembre 01 (FINSAT).- Transportation and Communications Secretariat (SCT) workers called a work stoppage to protest the planned firing of 4,000 of their comrades, to become effective next December 5. In an interview, the head of the SCTns operations sector, Victor Manuel Garcia Paredes, said Monday management announced the layoffs, which will include Telecom, Marina Mercante and Central Offices personnel. The union boss said the slicing of the labor contract also calls for the firing Telecom members of the unionns executive committee and he wouldnnt dismiss the possibility of the...

"...It's all so easy; It's always about the money. "But," I can hear you thinking, "wages and salaries are still going up, and have been going up for years and years, ever since I was a kid, anyway, so how can there not be enough money for these people to buy the things they need?" And it is that answer that explains why you are having to repeat my class year after year after year, my young grasshopper, and yet never get beyond yellow-belt status. So I will explain it to you one more time. Because the aggregate prices of...