Tag Archives: Credit

The Fall Approaches

OPEN ACCESS FOR A LIMITED TIME ONLY.
It’s not just the leaves that often turn when the year begins, with gathering pace, to slip towards its chilly end. Markets often do, too.

Given this backdrop, the sell-off in the Nasdaq – in the marvelled-at ‘Growth’ stocks, in the FAANGs, and in Tesla – comes at a moment which is particularly intriguing for reasons which go far beyond whatever coup SoftBank may or may not have attempted and whether those irritating Lockdown Livermores have finally gotten their comeuppance.

Saturn Devours His Children

A recent Wall St Journal article gave vent to a scare-story full of Underconsumptionist claptrap, carried under the catchy headline: “The Coronavirus Savings Glut”. Ironically, and only a day later, the paper ran a second piece entitled “How Coronavirus Upended a Trillion-Dollar Corporate Borrowing Binge and Kicked Off a Wave of Bankruptcies

To access this post, you must purchase Annual Subscription or Monthly Subscription.

After the Fall of Caffa

While politicians anxiously check the shifting weather-vanes of public opinion and scientists squabble over facts as well as interpretations, central banks are resolutely doing what they do best – wildly exceeding their briefs and trying to drown all problems in a flood of newly-created money. As ever, the underconsumptionists worry that a lack of demand will usher in deflation, in spite of all such efforts. Some of us, however, worry more about what it will do to supply. Here, we explain why.

To access this post, you must purchase Annual Subscription or Monthly Subscription.

M4 Compendium (updated)

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Breaking China

To access this post, you must purchase Annual Subscription or Monthly Subscription.

The Fed’s Non-Barking Dogs

To access this post, you must purchase Annual Subscription or Monthly Subscription.

The Austrian Prescription

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Money, Macro & Markets – The Archive

To access this post, you must purchase Annual Subscription or Monthly Subscription.