Gold prices are down almost 50% from their peak a few years ago and are now plumbing the depths of levels we haven’t seen since 2010. It’s been a slow-motion crash that’s engendered more defensive cognitive dissonance than any asset crash I’ve ever seen. Even the real estate and dot com people admitted when their…

What the hell happened with Google on Friday?

A hundred bucks isn’t really a hundred bucks in this country – at least not when you go to actually spend it on something. In San Francisco, for example, $100 only gets you $83 worth of stuff. This research has implications for the way we collect data to try to understand the national economy. The reality…

The pendulum always swings too far in both directions. I would tell you the ratio of passive fund inflows to active fund inflows over the last few years but I can’t because the latter category would be a negative integer. Instead, I’ll just tell you that almost 100 cents of every dollar has gone into…

Athens exploded into violent protest late in the day