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The US federal government’s financial accounts end each year on September 30th. Last week the Treasury Department reported the government’s financial position for the fiscal year ended 2016, and it does not look good. I will ignore for the moment the government’s negative net worth, which itself means that the federal government owes more thanRead more

September 19, 2011 – The Swiss National Bank finally gave up.  For months it tried standing alone against all of the bad monetary policies being pursued by the ECB, the Federal Reserve, the Bank of England and indeed, nearly all of the central banks of the world, but it was a losing battle.  So lastRead more

June 14, 2011 – The solvency of the European Central Bank is being called into question by some brilliant in-depth research from OpenEurope.org.uk.  This independent think tank believes “the EU must now embrace radical reform based on economic liberalisation, a looser and more flexible structure, and greater transparency and accountability” in order for the “EU’sRead more