Japanese Yen Under Pressure
The Japanese government has been pushing for a weak yen for a long time. A weak currency led to higher profits for Japanese exporters and to more import inflation, which is handy if you are [...]
The Tap Closes
The US equity market had a bad day last Friday, a bad week, a bad month, and a bad year too. If this continues, 2022 will be the worst year for US equities since 1974. As if that were not enough, [...]
Currency shifts
The three decades or so that coincided with the Bretton Woods system are often seen as a time of relative stability, order, and discipline. But given that it took almost 15 years after the [...]
Crumbling privileges
Since the launch of the Marshall Plan, the U.S. dollar has been the world’s undisputed reserve currency. The main role of a reserve currency is to provide liquidity for the rest of the world. [...]