It's payback time. The private sector has cut back. Consumers need to under-consume to make up for the over-consumption of the bubble years.

Dollar bashing has driven the U.S. dollar to an 11-month low against the euro.

What are the elements that comprise deflation?

The US system of capitalism has become a system where the capitalists have no capital.

The immediate concern heading into the new week is Monday’s holiday. While US markets will be offline, Asian and European traders can act upon any potential breakouts as there is time to forge significant follow through.

The European economic calendar is light in the week ahead, with a number of German fundamental data releases unlikely to force major moves across euro pairs.

Political news didn’t have much of an impact on the Japanese yen during the past week, despite the shift in power from the Liberal Democratic Party (LDP) to the opposition Democratic Party of Japan (DPJ), though realistically, it was well known beforehand and fully priced in.

How is it that the developed economy with the worst fundamental prospects touts a currency that is among the best performers for the year?

The Swiss Franc finds itself relatively unchanged despite a week of improving fundamental data.

Two things make Bill Bonner think the bear market is not over.