bretton woods II

The US economy at Defcon 2

This analysis is far from the consensus viewpoint.  Unlike the consensus view, however, this has the advantage of accurately predicting the events of the past year.  The deleveraging of the US economy is putting “torque” on the US financial system.  This is a process which cannot be stopped prior to completion, although the government will …

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A warning from Professor Niall Ferguson

The Harvard historian Niall Ferguson recently wrote about one of history’s great events, occurring now. Power — economic and political — shifts from West to East while we contentedly watch TV, play with our electronic toys, and exult in our large homes and granite countertops. The foundation of America’s role in the world slowly crumbles …

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