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Foreign policy is both economic and military. An interpretation of U.S. President Barack Obama’s foreign policy will be presented here that explains both his economic and his military decisions to-date, and that shows he’s been carrying out the policies of his predecessors in office. On economic matters, he has turned out to be the most […]Read More

It all started off well-enough: the USDJPY was modestly lower but noting big, then the Yuan was fixed a little less modestly lower – well ok, it was the lowest fixing in 8 weeks confirming China just couldn’t wait for the Shanghai summit to be over – and then suddenly the Chinese market realized what […]

A funny thing happens to an index’s valuation when you choose not to entirely ignore the companies that have negative earnings (i.e. losses). Ever wondered what the P/E ratio of the Russell 2000 was given that it is full of companies where the ‘E’ is negative? The answer is simple – and ugly – as […]Read More

Nigerian stocks closed the week lower, extending the losses recorded in the previous week. This was against a backdrop of extreme volatility in FX on the parallel market, heightened concerns about the extent of Non-performing loans in the banking system as well as investor apathy, given the low participation levels. The All-Share Index came off […]

Submitted by EconomicPrism.com’s MN Gordon (annotated by Acting-Man.com’s Pater Tenebrarum), Fudging Numbers It all seems so systematic, arranged, and orderly.  Sixty seconds make a minute, 60 minutes make an hour, 24 hours make a day, and one day equals one complete rotation of the planet earth. Roughly every 30 days the moon orbits the earth […]Read More

An interesting fact has hit the newswires earlier this week, as the Dutch Central Bank confirmed it was looking to (temporarily?) move its gold reserves to another secure location. The DNB claims it has to renovate its vaults and thus needs to store the yellow metal elsewhere and that’s quite surprising as the central bank repatriated […]

In what amounts to a referendum on President Hassan Rouhani’s leadership, voters in Tehran turned out overwhelmingly for moderates in closely watched parliamentary elections that may serve as an important signal for where Iran is headed. Pro-Rouhani candidates are set to sweep all 30 of Tehran’s parliamentary seats. The 290-member body is dominated by hard-liners, […]

In what sometimes read like a sponsored article, the Nation reports that the CBN has a grand plan to reduce the disparity between the official and parallel market rate to a premium of just N3. That is, the Parallel market rate should trade at N200 compared to the official rate of N197. How they plan […]

It appears there is a battle for who is to take the glory of who let the naira rise last week against the dollar. Billionaire Businessman Ifeanyin Ubah went on to social media to claim glory for the fall. In order not to seem ineffective, the CBN has also also now claimed the glory citing […]

And so, just like that, with a sweeping victory in South Carolina, Sanders’ Socialism crawls back into its cage and crony capitalism is alive and well. As Edward Snowden so perfectly sums up… 2016: a choice between Donald Trump and Goldman Sachs. — Edward Snowden (@Snowden) February 28, 2016 And in case you thought this […]

Update: CBS and CNN call it for Clinton. It was over before it started. *  *  * Last weekend, on the heels of a decisive (if expected) victory for Bernie Sanders in the New Hampshire primary, Hillary Clinton reclaimed the momentum in the race for the Democratic nomination by escaping the Nevada caucuses with a […]

Back in August 2012, when negative interest rates were still merely viewed as sheer monetary lunacy instead of pervasive global monetary reality that has pushed over $6 trillion in global bonds into negative yield territory, the NY Fed mused hypothetically about negative rates and wrote “Be Careful What You Wish For” saying that “if rates […]