Whatever has the nature of arising, has the nature of… Read More »The end of the most manipulated business cycle — ever
Errata in the effects of QE corrected 10/21. Market liquidity… Read More »The (ominous) problem with global liquidity
The general storyline of the Global Financial Crisis (GFC) goes about like this: funds from all over the world headed to the US, where the banks, to finance the housing market boom, developed unsound financial products which then brought down the glo…
The economic crisis brewing in Turkey seems to have surprised… Read More »Turkey: A harbinger of a global debt crisis?
We’ve been warning on the risks of so called unorthodox central bank policies, including zero and negative interest rates and asset buying programs, for several years (see, e.g. this, this and this). Now, the era of global quantitative tightening, enacted by the Federal Reserve, will bring an end to the “global synchronized growth”.
Several economic indicators have turned to the south at the… Read More »Zombies and the end of the ‘global synchronized recovery’
Since early February, the financial markets have been wobbly. After the deep plunge (worst point-wise fall) of the Dow Jones in February 5, the stock markets have recovered but the market volatility has remained elevated. Many have blamed the rising…