Asset markets in the U.S. are flirting with a ‘bear… Read More »Central bankers are ‘running down the clock’
We have been emphasizing the fragility of the global economy… Read More »Q-Review 3/2021: Zombification and the coming inflation shock
In late 2017 we reported, as probably the first macroanalytic… Read More »The mystery of the stagnated productivity growth
For years, we have been warning about dire consequences if… Read More »The destruction of the world economy by the Central Banks
One thing missing from basically all economic analyses of the… Read More »The approaching European (global) banking crisis
The economic calm which has succeeded the turbulent conclusion to 2018 was abruptly shattered on the 16th of September. On that day, rates in the repo markets spiked by 248 basis points to more than double the overnight lending rate of the…
Errata in the third paragraph (“steepening” -> “flattening”) corrected in 04/08.
Yield curve inversion has spooked the markets. In all honesty, it should not have come as a surprise. After the Federal Reserve pivoted early January and …