Some people say governments will be able to catch Bitcoin cheats in the near future. Harder to catch "offshore" accounts in the UK and US. Governments owe it to their citizens to go after tax cheats and punish them with felonies.

Thanks, Bill, and I just published an article about capacity utilization and where our economy may be going if business does not adjust. www.talkmarkets.com/.../is-usa-low-capacity-utilization-low-enough-to-prevent-recession

Labor share of GDP is weak in Japan, even though unemployment is under 3 percent. That can't be good long term. It results in weak consumption.

Amazon's negative affect on the workforce, keeping wages low, certainly gives firms little pricing power. Amazon is just a part of that online push to keep wages low.

I would even go so far to say that this lack of respect for elders who have paid into a social security that has been confiscated by government over time makes this article sound like a propaganda piece for the wealthy who want to dismantle a safety net that works. I hope I am misjudging the author.

Just wow. I would have felt a lot better had this article had been published on April first. Interesting, but chilling.

The Fed is blinking. Nice article. Of course, Edward Lambert has been telling them that labor is weak and that low inflation is here to stay unless an easy money housing bubble is blown: www.talkmarkets.com/.../for-all-you-inflation-fearmongers-dr-lambert-has-an-answer

British austerity, Macron, Trump. They all are today's versions of Ebenezer Scrooge.

If there is a bond bubble, the long bonds should rise in interest as well with no inversion of the yield curve. But if there is no bubble long rates should stay low.

How can DB say this: “a positive supply shock does not generate self-reinforcing dynamics of weaker growth and lower inflation,”? Wasn't the Great Recession based upon the decline of asset values, both in oil and in housing?

Thanks for the link, by the way.