Is reserve currency status an economic blessing or a curse? The answer might seem obvious, as reserve currencies have been shown to confer lower borrowing costs on their issuers. But what of the borrower who, enticed by low interest rates, borrows more than they can pay back? Naturally the result will be a default. However, [...]
It’s bad enough when they shrink the size of my non-butter substitute from 16 to 15 ounces. It’s worse when my parents’ sour cream index soars 50% or so in price in less than 8 months.
But when they shrink the width of a roll of toilet paper, they’ve gone too far. Talk [...]
Caterpillar, Inc. came out with an outstanding sales report for the quarter ending January 31, 2011. Sales are through the roof: up 48%. This caps off nine straight rolling three-month periods of growth. Per region sales were:
Asia-Pacific: January +38%, December + 47%, November +51%.
North America: January 58%+, December +48%, November +53%.