Has the Fed regained its credibility as a check on inflation? That’s the question. Answers run the gamut. At one extreme are incredulous lamentations for
Category: politics
In Odesa, Strategic Callousness
On Friday, there was “a beacon on the Black Sea.” So said UN Secretary-General Antonio Guterres who, along with Recep Tayyip Erdogan, shepherded a tenuous
Putin Sinks Uniper
Uniper, Olaf Scholz said Friday in Berlin, was experiencing “great difficulty” from Germany’s gas crisis. It was an understatement. The energy giant, Germany’s largest buyer
To Break A Madman
One problem with trying to craft a coherent sanctions regime against Vladimir Putin’s Russia is that every country’s energy needs are different, and as such,
Japan’s Dark Day
The world isn’t getting any safer. Nor its people any less disturbed, apparently. In America, a country with more guns than people, the public has
Asynchronous Wars And The Technology Of Killing
This vulnerability defines a new phase of warfare: The freezing and seizing of assets by political adversaries, which, when combined with sanctions, becomes effectively a
Humans: When Progress Isn’t Progress
I find it useful, refreshing even, to take a step back from time to time. Especially when the market narrative gets unduly tedious or otherwise
Goodbye Boris
Boris Johnson agreed to resign as UK Prime Minister Thursday, following a string of departures that included Rishi Sunak and Sajid Javid, whose resignations described
Germany Faces Full-On Crisis As Uniper Looks At Bailout
Germany’s worsening energy crunch was back above the fold on Thursday, after Uniper withdrew its outlook and nodded to a possible government bailout. The company,
Under The Shadow Of Stagflation
America is experiencing an acute crisis of confidence. As discussed here at some length last week, the world’s foremost democracy has a credibility problem at
Russia Defaults. Nobody Cares
Three years ago, when Donald Trump sanctioned Ayatollah Khamenei, I described the decision as “about like sanctioning the Easter Bunny.” It sounded impressive, but it
America Has An Existential Credibility Problem
The Supreme Court overturned Roe v. Wade on Friday, exacerbating a national firestorm and deepening what I think it’s fair to call an existential societal
Germany Faces ‘Lehman Effect’ In Gas Standoff With Putin
Germany’s energy crisis heated up on Thursday, when Economy Minister Robert Habeck raised the country’s alert level to “alarm,” the second-highest phase in a tiered
Fed Panic: Why This Is Not A Drill
It’ll be all housing data and Fedspeak in a holiday-shortened US trading week. Anyone who isn’t on vacation will hear from at least seven Fed
The Moral High Ground When Everyone’s Immoral
“Saddam Hussein wasn’t an especially good guy.” That’s about all anyone who still defends America’s decision to invade and occupy Iraq has to offer these
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