Ten years after the financial crisis, Europe's economy achieved a recovery, but not a revival. Low inflation, low interest rates and low growth were the new normal across the continent. Then, the coronavirus pandemic hit, causing incredible damage to the economies of numerous countries.

The lockdowners have had surprising success in convincing people of their wild views. You only need to believe that virus avoidance is the only goal for ever...

Bitcoin is censorship-resistant... The hashtag #Bitcoin is not. Over the past days, Facebook has been busy censoring all posts that include the #Bitcoin hashtag in the description. There are no distinctions: Videos, photographs, and even messages have been censored, blocking the public from accessing any information related to the cryptocurrency.

We warned last week that, despite The Fed's unlimited largesse, there is trouble brewing in the mortgage markets that has an ugly similarity to what sparked the last crisis in 2007. For a sense of the decoupling, here is the spread between Agency MBS (FNMA) and 10Y TSY yields...

A new study of World Bank data finds that aid disbursement to highly aid-dependent countries coincides with sharp increases in bank deposits in offshore financial centers. According to The Economist, the World Bank refused to release the study. Afterward, its chief economist resigned. Here is the full content of the allegedly-censored paper.

Negative rates are the destruction of money, an economic aberration based on the mistakes of many central banks and some of their economists who start from a wrong diagnosis: the idea that economic agents do not take more credit or invest more because they choose to save too much and therefore saving must be penalized to stimulate the economy.

Cryptocurrencies have the potential to eventually replace cash, according to new research from financial services giant Deutsche Bank. In the "Imagine 2030" research report, Germany-headquartered Deutsche Bank said cryptocurrencies may have been "additions" rather than "substitutes" in the finance world thus far, but the next decade could change that as regulatory hurdles get past.

Something is seriously starting to break in China's financial system.