As chief minister, Narendra Modi had to spend a few days every year in meetings with the planning commission. It was a begging trip; the planning commission decided the allocation of plan funds to states. He had to...
News of the defection of two more Republican Senators doomed the Senate attempt to replace and repeal America’s national health care. The failure to replace the system dubbed Obamacare, despite the Republican majority in both...
Sterling’s advance today is being attributed to comments by a member of the Bank of England’s Monetary Policy Committee McCafferty. However, we suspect it was a news item that was used to justify the price...
Inflation is not only a key leading indicator of an economy that gives headwind direction to the anticipated pace of economic activity but also a factor that is capable of bringing down a government if...
Socialism had its golden age after World War II. Taxes in the belligerent countries had gone sky-high during the War; people had got used to paying high income taxes. Governments had no use for the...
Bank of England Governor Carney said shortly after the 5-3 vote at the MPC that now was not the time to increase interest rates. Today sterling is flying. It is posting the largest gain in...
The HK financial system is “very strong” and “can withstand an adjustment in the property market.” The Hong Kong dollar is pegged to the US dollar. Hong Kong’s monetary policy is follows the Fed’s monetary...
Last September I wrote that the troubles Syria is going through may well be due to climate change – specifically, to a decline in rainfall that has made agriculture less viable and forced people to move out...
Subprime Auto-Loan Backed Securities from 2015 on track to be Worst Ever. Institutional investors that manage other people’s money grabbed subprime auto-loan backed securities because of their slightly higher yields. These bonds are backed by...
If there are two key measures of a nation’s financial health – the budget deficit and national debt – then the UK is flat on its proverbial back. Seven years after this government came to...
The conventional narrative is that the yen’s strength is being driven by risk. It seems to border on circular logic. If the yen is up, it must be due to investors being averse to risk,...
According to METI, retail sales rose by 3.2% year on year(YoY) in April 2017. The growth rate is the highest since April 2015. A breakdown of retail sales shows that a broad range of sub-sectors...
