The stock market is at all-time highs. Argentina, a serial defaulter just sold $2.75 billion worth of debt with a 100-year maturity. Commercial real estate is booming again. All of this irrational exuberance while the […]
The net result is nonsensical policies that fail to achieve their stated objectives. CHARLES HUGH SMITH We live in an era of illusion: the illusion of understanding, and the illusion of control. Few institutions reflect these […]
By: Steve Saville When the central bank pumps money into the economy and suppresses interest rates it creates incentives to speculate and invest in ways that would not otherwise be viable. At a superficial level the […]
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