Commodity prices have been on a rollercoaster ride as central banks have pumped trillions in liquidity into the global system, trying to prevent a deflationary long wave debt collapse from delivering the economic coup de gras, and driving the global economy into a natural Kondratieff (aka Kondratiev) long wave winter season bottom. Commodities are the…
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The Pricing Mechanism of Markets: S&P 500 1344.07 and US 30-Year $117.09
Evidence is mounting that the pricing mechanism of global markets creates spontaneous order out of the chaos of billions of people pursuing their self-interested purpose. Arriving at a price for products, services and financial assets is the heart of this process. There are successes and failures in every round of pricing, which are priced into…
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The Edge of Chaos
Nobel economist Friedrich Hayek’s most enduring legacy is his defense of classical liberalism and free market capitalism. The Road to Serfdomis Hayek’s case against central planning, something he viewed as a product of human design as opposed to human action. Hayek and his mentor Ludwig von Mises were the preeminent writers and thinkers of the…
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