The Fed’s taper “may not be smooth,” explained Bank of England deputy governor Charles Bean at the central-banker shindig in Jackson Hole. He was referring to the currencies, bonds, and stocks of emerging-market economies such as Braz…
I first came to national attention back in 2008 and 2009 when the housing and credit markets imploded. I became known as the guy that other market “experts” laughed at when I warned of trouble brewing in the seemingly indestructible American econom…
Peak Housing reflects not just a credit bubble but Peak Fraud and Peak Suburbia.
Once again pundits are claiming that housing is “finally recovering.” But they’re overlooking three peaks: Peak Housing, Peak Financial Fraud, and Peak Suburbia, all…
Depending on debt to fuel nominal growth leads to an economic death spiral.
Sometimes one chart says it all. Here is a chart of the S&P 500 (a broadly based measure of the U.S. stock market) in a ratio with total consumer credit, courtesy…
We have learned nothing since 1999 except the Central State and Central Bank will intervene in the market to bend price and risk to serve the Status Quo.
If we learn nothing, then we deserve to lose. This is not a popular concept in America a…
Ben Bernanke’s zero-interest rate policy (ZIRP) and command-economy efforts to maintain mispricing of risk, debt and assets are destroying capital and capitalism. No wonder his policies have failed so miserably.
To understand why Federal Reserve C…
China’s credit bubble has finally popped. The property market is swinging wildly from boom to bust, the cautionary exhibit of a BRIC’s dream that is at last coming down to earth with a thud.
http://www.telegraph…ver-begins.html
Nouriel Roubini isn’t all negative. He also offers, positive, constructive ideas on how to save the US.
In a paper called The Way Forward, which he published alongside Daniel Alpert, Westwood Capital; Robert Hockett, Professor of Law, Cornell Unive…
Morgan Stanley in a free fall. Goldman Sachs at multi-year lows. Citigroup looking Ugly. Bank of America off 50% from recent highs.
You may be wondering what is going on with the major firms in the financial sector. While each of these firms have d…
Bloomberg got it partly right when taking the gloomy view it reported that, “Retail sales in the U.S. unexpectedly stagnated in August as a lack of employment…
