Despite remarks of Chinese officials and offhand comments of the US Treasury Secretary, the Fed flow of funds accounts for Q4 2008 indicate that the US Monetary Authority acted, in fact, like a world central banker, supporting the dollar as the primary international reserve currency. First, public funds used to support AIG were allowed […]

On January 11, 2007, Hugo Chavez Frias was sworn in for a third term as Venezuela’s president, promising to expropriate strategic sectors of the economy, specifically public utilities and oil properties and to generally run rough-shod over property rights and the rule of law. […]

The Democratic Party and its supporters have indicated a willingness to enact legislation that will reduce demand for bonds, while increasing supply: a recipe for lower bond prices and higher yields. There are few signs that the weakened Republican Party, now in the minority, will put up effective resistance. Here are some signs, portents, and expectations: Increased […]