Hyperinflation: Mugabe Versus Milosevic
When a country’s monthly inflation rate exceeds 50% – that is close to an annual rate of 13,000% – it …
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The Fed Plays With Fire
The U.S. dollar may be cyclically weak right now, but it remains the main vehicle for foreign exchange transactions, the …
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The Greenback and Commodity Prices
The Federal Reserve’s modus operandi is to panic at the sight of real or perceived economic troubles. As long as …
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Mark-To-Model, Into The Twilight Zone
On Sept. 30, the Securities and Exchange Commission challenged the primacy of using market prices as a measure of value. …
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Shelter from the Storm
In my April 16, 2007 column I warned that the U.S. was trapped in a dangerous boom-bust cycle that began …
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The Credit Triangle
The world is in the midst of a classic boom-bust cycle. These cycles start when central banks push interest rates …
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