by Joseph Joyce The U.S.: Inept Diplomacy, Indispensable Currency The announcements by several European governments that they would join the new Asian Infrastructure Investment Bank (AIIB) have been widely seen…

…excessive accumulation of societal wealth in the form of net government capital—in other words, government debt was too low. Given the debt secured by government-held social wealth ought to be…

…of billions. About 75% of the $1.2 trillion in outstanding student loan debt is eligible to be refinanced, and the creditworthy tranche of this debt–the part private investors are eyeing–totals…

…price. There is demand for the good or service. So is there demand for money? Well, corporate bond liabilities are up high in this business cycle which would imply that…

…expected value of losses due to default is really a correction to expected returns (it appears as part of the risk premium of a corporate bond but it is part…

…Europe and Japan need to be clear that their biggest risk is a further slowdown. They must indicate a willingness to be creative in the use of the tools at…

…second place in the race. At the final finish line, event organizers produced a matching medal for Gobi, too. By then, he knew they shared a special, inexplicable bond. Leonard…

…leading data, and go from there. First of all, while corporate bond yields made a new low after the Brexit vote, (blue in the graph below) mortgage rates did not…

…spending on “entitlements” (Social Security, Medicare, food stamps and the like) crowding out gross national saving. But only in this country. Which is odd, because in northern European countries—Germany, Finland,…