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In just a couple of months, the largest pension fund in the United States, the California Public Employees' Retirement System (CalPERS), will have to decide whether they'll rely on sound financial judgement and math to set their rate of return expectations going forward or whether they'll cave to political pressure to maintain artificially high return hurdles that they'll never meet but help to maintain their ponzi scheme a little longer.  The decision faced by CALPERS is whether their long-term assumed rate of return on assets should be lowered from the cu

We previously reported on Druckenmiller's sudden and dramatic U-turn in outlook following the Donald Trump presidential victory, when on November 10, the legendary Duquesne manager said that he is now "as hopeful as I've been in a long time", and to validate his belief, he said that "I sold all my gold on the night of the election" because “all the reasons I owned it for the last couple of years seem to be ending", first and foremost his expectations that inflation is now set to spike, forcing money out of safe assets - like gold and Treasuries - and into the US Dollar.

The Daily Bell Abolish Corporations  

By EconMatters

So let me get this straight a $1 difference in the oil price means an additional 1 Billion extra to Iran and Iraq`s annual oil revenue and they are fighting over a measly 200,000 barrels per day oil production delta. OPEC has to be the most incompetent organization on the face of the earth! Split the freaking difference people, and move on!!

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

As the Venezuelan bolivar collapses, the hype about Venezuela’s alleged hyperinflation becomes more intense. Most of the commentary is literally fantastic, suggesting that the authors are unfamiliar with the subject of hyperinflation and the arithmetic of inflation.