Last week, just as some bank analysts suggested that China’s central bank may use bitcoin for reserves and that its fair value was higher than prevailing prices, China banned its banks from trading the digital currency.
In the lifespan of multi-billion dollar projects, five years is a relative blink. It’s why committing to big infrastructure projects is so nerve-wracking—the world can change in a hurry.
This Great Graphic shows how the average income and population by racial group changed during the life of Nelson Mandela. It comes from The Economist.
As we to prepare for the arrival of a new year, 2014 for those not keeping track, we should take time to consider reality. One part of that is to reconsider some well grounded advice: Past performance does not predict future performance.
The market’s long-term trend and momentum remain firmly in bullish territory and 52-week breadth data on the S&P 1500 shows no signs of a major market top. That said, sentiment levels are elevated and intermediate and short-term momentum are slowing
In his masterpiece The General Theory of Employment, Interest and Money John Maynard Keynes referred to what he called the 'euthanasia of the rentier'. Keynes argued that interest rates should be lowered to the point where it secures full employment (through an increase in investments).
It is not really clear yet whether the recession in the euro area has ended. The rule-of-thumb definition of a recession as two consecutive quarters of negative growth is not very helpful and, in fact, is not used by the official arbiter in the US.