The Ukraine Is The Other Area Where Things Could Come Unstuck

The markets have generally reacted with euphoria to a mere pledge by the Fed to retain a cautious stance on interest rate hikes.  With oil approaching the $50 mark, an overriding concern was that the Fed would commence hiking in … Continue reading

Did The US Midterm Elections Represent The Failure Of “Obamanomics”?

THE FOLLOWING WAS A PAPER DELIVERED TO THE ITALIAN ASPEN INSTITUTE BY MARSHALL AUERBACK IN NOVEMBER: Democrats are now sifting through the rubble of what was their party on election night, examining losses—and even near losses—that seemed fairly inconceivable just … Continue reading

OECD Study Supports View That Inequality Is Bad For Economic Growth

It’s official, at least according to a new study by the Organisation for Economic Co-operation and Development (http://www.oecd.org/els/soc/Focus-Inequality-and-Growth-2014.pdf):  Rising inequality is estimated to have knocked more than 10 percentage points off growth in Mexico and New Zealand over the past … Continue reading