Everyone is doing the right thing. Households are reducing spending. Business is reducing its costs. GDP growth is falling and investors are taking shelter in Treasury debt. So what’s the problem?

There are those who believe we have a recovery, though weak, that will continue and eventually bring the economy back to health. Then, there are those who think the recovery will not come as planned.

The European stress tests are now behind us and unfortunately they failed to be the buzz kill or euphoric event that was needed to break the EUR/USD out of its recent trading range.

It seems that not everyone is ready to join the deflation-first, then-inflation camp I am currently resident in. So in this week's article we look at some of the causes of deflation, the elements of deflation, if you will, and see if they are in ascendancy.

To be great is to seek but never quite attain perfection and therefore to practice the Greek ideal for living a truly satisfying life.

Thousands were employed to regulate, control, protect and administer the public weal.  Millions more were able to malinger and leech.

The dollar's role as a safe haven currency holds the greatest influence over the direction and intensity of price action, but this underlying current itself is far from assured.

The euro may resume its long-term downtrend as investors scrutinize a deeply flawed set of EU bank stress test results amid increasingly lacking support from the unwinding of record speculative short positions.

The economic docket for the following week is expected to show a widening trade surplus, while retail spending is forecasted to increase for the fifth time during the last six-months, and the data is likely to encourage an improved outlook for future growth as the recovery gathers pace.

The consumer credit report and mortgage approvals highlight the upcoming week’s event risk as signs that banks continue to hoard cash and tighten lending standards will dim the outlook for future growth.