Burst “Bitcoin, briefly the world’s favourite cryptocurrency, is in trouble. It plummeted from a peak of around $33 per unit in June to just $2.51.” Quite the fall it was too, 95% in four months. Still, it didn’t die, blocks kept coming, the monetary policy stayed exactly the same as it always was and always

The pivot that isn’t coming  While we wait for the Federal Reserve to pivot to money printing, I might put forth the suggestion that it simply isn’t going to happen. There are signs that the objective of the Fed is far bigger than simply killing off inflation. The Federal Reserve is jointly owned by the

4% Increasingly, 4% seems to be the magic number. When US 10 year yields hit that level, the system wobbles. Various collapses attest to that, first in Sri Lanka and most recently in the UK. US debt now sits at $31 trillion. At 4% interest their annual repayments would be $1.2 trillion, 50% more than

Australia It’s no surprise to see Switzerland and the USA at the top of the list for average wealth. However, if we look at median wealth the story is rather different. This measure controls for super-rich Americans who dominate the rich list. The United States does not appear at all in the top 10 for