In the science of economics there are no such constants, yet investors often behave as if they operate in a world of logic and certainty. Because such assumptions are made, history is littered with investors who have failed miserably.

The MMR conversation on savings and investment has now raged to over 600 comments.  It would be an understatement to say that the conversation has been illuminating.  To me, one …

Time to put on my myth busting cap again.  This time, it looks like the USA is turning into Rome.  But probably not.  This is a comparison we almost always …

What have Bill Gross, John Paulson, Anthony Bolton and Bill Miller all got in common? They are all ‘rock star’ fund managers who have fallen on hard times more recently. Life in the fund management industry is not what it used to be like. Life is tough even for the supremely skilled. Markets are changing, fund managers are struggling to adapt and clients are growing restless as a result.

The Russian financial crisis and eventual default is often cited as a counterargument to one of the principle MMT ideas that a sovereign currency issuer should not be able to …

Being right matters.  This isn’t emphasized quite enough in the finance world and in economics in general.  Too often, bad theory has led to bad predictions which has helped contribute …

Let’s not sugarcoat tonight’s “resolution” – this is merely a temporary measure that will buy them more time to resolve the true cause of the currency crisis.  Let’s take a …

The conditions that held in 2007 have been replicated, and the next GFC is just waiting for a trigger. The bailout has increased the linkages among the top four or five banks, making the system even more fragile.We’ve lost eight million jobs, opening a demand gap of about $1 trillion.Although some households have defaulted on their debts, and others have repaid portions of theirs, most of the household debt held in 2007 still exists.

The physical oil market continues to show a remarkable strength even if futures prices are lagging amid worries about the impact of an economic slowdown on crude oil demand. The latest signals of supply and demand tightness come from Asia and the Middle East.

If you cite inflation statistics these days you inevitably run into the same counterpoints from those who have long been predicting hyperinflation in the USA. And despite the fact that …