It’s Christmas. A time of year intrinsically linked to baby Jesus, a manger, some ancient wise men, choirs of angels and what is mostly an unflattering representation of the Roman Empire.
Roman PR has been faltering on other fronts as well, as this segment demonstrates… Read more
Is QE money printing, or not? That is the question.
Is it hyperinfaltionary, or not? That is another question. Read more
Country asks for another IMF bailout, after screwing up the first one. There are few signs of spending coming under control. The neighbour which really holds the purse strings demands ever more privatisation.
. . . Not Greece. Read more
For the commute home, where the carry trade means helping your better half unload the car in exchange for first dibs on the remote,
- The FT visits Bernie Madoff. Read more
Either Willem Buiter is setting out to shock, or he really is worried about Japanese deflation this time. Read more
Société Générale strategist Dylan Grice is back on the Rudolf von Havenstein trail.
Grice first brought up von Havenstein back in March, noting the Prussian central banker’s penchant for monetising Germany’s debt during the First World War — leading to massive bouts of hyperinflation. Also of note, according to Grice, was von Havenstein’s striking resemblance to one Fed chairman, Ben Bernanke. Read more
And to think the market shorthand has always been Japan = deflation.
Trust Société Générale strategist Dylan Grice to think of the Japanese future a little, um, differently. From Friday’s Popular Delusions note: Read more
That’s from Dylan Grice — über-bear Albert Edwards’ sidekick at Societe Generale.
He’s done a review of inflation during the Weimar Republic inflation in his latest `Popular Delusions’ note. Prussian central banker Rudolf von Havenstein developed a habit of monetising Germany’s debt during the First World War, eventually leading to massive bouts of hyperinflation: Read more
When is an equity rally actually symptomatic of an inflationary environment to come?
That would be when it happens in Zimbabwe. Read more
That’s not in Zimbabwe by the way.
Morgan Stanley’s Jocahcim Fels and Spyros Andreopoulos look at the possibility of hyperinflation hitting the western shores of the UK, Europe and the US in their latest note. Their conclusion is a little scary (our emphasis). Read more