The “US-Saudi petrodollar deal ends after 80 years”, reads one article from India Today. Another, from NASDAQ, claims that the “U.S.-Saudi Petrodollar Pact Ends after 50 Years”. And FX Street says “The Petrodollar is Dead and That’s a Big Deal”. Summary: The most consequential aspect of the Petrodollar Pact Theory is that a political agreement […]
The Myth of the Petrodollar System Read More »
Earlier this week, a prominent finance and macroeconomics educator – George Gammon – posted a video in which he suggested a different way of defining whether or not the economy is in recession. Here's The Real Recession Indicator They Don't Want You To See https://t.co/SNqoJsRH64 — George Gammon (@GeorgeGammon) April 29, 2024 It can be
The Gammon Indicator of the Business Cycle Read More »
Introduction As the dollar enters its second century of dominance as the World Reserve Currency, the sustainability of that dominance is being called into question for the first time in many years. A reserve currency is a medium of exchange (money) that is used for trade, credit, and investment, outside its country of origin. The
The Myth of the Petrodollar System Read More »
In 2021 the cracks in China’s real estate sector were exposed when its biggest developer – Evergrande Group – started having trouble making interest payments on its debt. The company’s bonds were never in amazing shape. Junk debt, to be sure. They traded around 83 cents on the dollar in May of 2021, but by
Why China’s Crisis is like the panic of 1907 Read More »
