By Simon Black There was a time, centuries ago, that France was the dominant superpower in the world. They had it all. Overseas colonies. An enormous military. Social welfare programs like public hospitals and beautiful monuments. Most of it was financed by debt. France, like most superpowers before (and after), felt entitled to overspend as much as they wanted. And …
One Man’s Opinion: Will US Equities Rise As The Budget Deficit Shrinks?
The Federal Reserve balance sheet has nearly tripled in size to $3 trillion over the last few years, which is a cause for concern, says David Kelly, chief market strategist at JP Morgan Funds. The US Fed has loaded up their balance sheet with a pile of very bad assets, i.e. very low yielding bonds, and eventually they have to …