Will central banks survive?
Almost all economists and the vast majority of the general population erroneously believe that central banks are, basically, indestructible. And most fail to appreciate that central banks are different from normal commercial banks in just two respect...
The dangerous zombie infestation (of the world economy)
It is estimated that over 14% of companies in the [...]
Manias, Panics and Crashes. History repeats.
The stock market has been rallying lately. It has been supported by the People’s Bank of China (PBoC), which started its liquidity operations in mid-December, and the Federal Reserve (Fed), which changed to a much more ‘dovish’ tone in January. But, ...
The scenarios of the collapse
2019 has started more calmly after a very volatile year-end [...]
The (ominous) problem with global liquidity
Errata in the effects of QE corrected 10/21. Market liquidity [...]
10 years from Lehman. And nothing has been fixed
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...
Q-review 2/2018: Duck and Cover!
The world economy is hurtling towards a global crisis. The [...]
Quantitative tightening and the end of the global business cycle
We've been warning on the risks of so called unorthodox [...]
The crash of 1929
In the 4th of February, we published a blog entry [...]