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Norway Pushes Panic Button: "We're In A Crisis Now, We Can't Deny That"

Norway Pushes Panic Button: "We're In A Crisis Now, We Can't Deny That"

We’ve spent quite a bit of time documenting Norway’s precarious balancing act in the face of slumping crude prices.

On the one hand, falling crude puts pressure on the krone which essentially allows the Norges Bank to compete in the regional currency wars without resorting to the same type of deeply negative rates as the ECB, the Riksbank, the Nationalbank, and the SNB. In short, a falling krone preserves export competitiveness in a world gone Keynesian crazy.

This Is What Janet Yellen Thought Is The "Worst-Case Scenario" For The U.S.

This Is What Janet Yellen Thought Is The "Worst-Case Scenario" For The U.S.

One year ago, when the Fed released its 2009 transcript, we learned that after a terrible 2008, the Fed's sense of humor gradually returned and instances of the word "laughter" in declassified Fed transcripts rebounded in 2009.

As a reminder, the Fed's sense of humor as determined by recorded incidences of "laughter" at FOMC meetings hit their highest level on record in July 2007, which coincides exactly with the moment when the housing bubble finally burst (remember: they weren’t laughing at you, they were laughing with you). The laughter died down quickly after that.

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