Bad news arrived earlier this month for anyone with a stake in any private sector pension fund that had invested in the Polish government bonds. The government announced a 100% default on these bonds. It stiffed its creditors (lenders).
The creditors - China, Japan and other Asian governments - have a hoard of U.S. Treasuries in their $5 trillion cache of foreign exchange reserves, the equivalent of almost a third of U.S. gross domestic product.
An economic crime perpetrated by criminal syndicates in the most remote regions, exploiting local people and lax lawsJust this week, in Zimbabwe's largest game park, more than 80 elephants were killed for their ivory by poachers who poisoned a waterh
But, where can you go? As an oil trader, I've got no problem being short commodities, but a lousy track record being short stocks. That's why I've advocated collecting premium wherever you can by selling calls either in the money or slightly out o
If you live in Venezuela and want to fly abroad, get in line.
Which countries work like crazy and which ones work hard?
The economy works like a simple machine. But many people don't understand it— or they don't agree on how it works — and this has led to a lot of needless economic suffering.
China's ambitious urbanization plan has helped create many ghost cities.
Suicide has long played a bizarre role in Japanese culture.
Financial circles in Hong Kong are buzzing today on the new Goldman Sachs projection that gold may drop below $1,000 an ounce.
(MoneyWatch) It's been five years since the collapse of Lehman Brothers. Has anything changed? Far from being jailed, bankers who presided over the frauds that brought down the U.S. economy in 2008 have kept their money and are living large. "Too
The Bank of England is taking its new plastic £5 and £10 notes on a nation-wide roadshow – what will the public make of them?
I guess I missed this bit of news, but Venezuela recently got about $9 billion worth of their gold transferred from American to Venezuela.
Technology is advancing in leaps and bounds -- and so is economic inequality, says writer Chrystia Freeland.
We are now back to the “green shoots” era of false hope and total misunderstanding of the real state of the world economy.
David Stockman's 742-page "The Great Deformation" - Prompts some understanding about the feud between Murray Rothbard and Milton Friedman
The Chinese gambling haven of Macau is booming as VIPs spend cash more heavily and rapidly, while Singaporean gamblers slow down and Japanese politicians back groundbreaking casinos, according to an industry report by Citigroup Inc. (NYSE:C) from Mon
While the world was glued to the developments in the Mediterranean in the past week, Poland took a page straight out of Rahm Emanuel's playbook ...
s well as undermining 1.2 billion people’s hopes of prosperity, failure to reform dragged down the rupee. Restrictive labour laws and weak infrastructure make it hard for Indian firms to export. Inflation has led people to import gold to protect thei
How will rising tensions in the Middle East impact the global energy market?
Overnight Media Digest:
A delay in potential U.S. military action in Syria and improving economic data from China and Europe boosted appetite for riskier assets on Monday, lifting world shares and sending the yen lower.
A U.S. court ruling for Argentina to repay creditors who rejected the restructuring of its defaulted debt could set a bad precedent for other countries, Brazilian central bank chief Alexandre Tombini said on Thursday.
One of the cardinal rules of banking states that during a currency crisis good money leaves and there is a rush for specie or hard assets.
The global economy could be in the early stages of another crisis. Once again, the US Federal Reserve is in the eye of the storm.
Even after seven years of writing macroeconomic analysis for the liberty movement and bearing witness to astonishing displays of financial and political stupidity by more "skeptics" than I can count, it never ceases to amaze me the amount of blind fa
The total amount of Greek government debt outstanding has grown so much over the last 15 months that it has retraced over 60% of the 'haircut'-based reduction and has jumped a stunning 14.5% in that period.
After a brief and hopeful respite, the Indonesian Rupiah has collapsed by 3.9% in the evening's session - the biggest drop in 5 years.
So much for the European growth meme (see CAT's bellwether sales to the region) or the cleanest dirty shirt moving across the pond.