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Daily Archives: January 21, 2015
Bank of Canada throws in the towel on ‘recovery’ meme
Another day, another central bank ‘shocks’ currency markets. Today it was the BOC’s turn, as Mr Poloz admitted Canada’s economy is tanking with the price of oil. Cutting the overnight rate by a token .25% to .75, the Canadian dollar … Continue reading
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Honda CEO rings the bell on “stupid” auto lending
The race to force auto sales on to customers who cannot afford the payments, seems to have finally hit a wall: “A top U.S. executive at Honda Motor Co. (7267) said competitors are doing “stupid things” to boost auto sales, … Continue reading
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On the sudden peril of rigged prices
Peak faith in central bankers has come and gone, at long last. While foolish beliefs always eventually pass, the staggering costs from this episode will linger. Following Switzerland’s decision to remove its cap on the franc, James Grant of Grant’s … Continue reading
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