Doug Noland

Credit Bubble Bulletin

Contributor since: 26 Jan 2015

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• Scary Time

  Published 16 July 2016 | viewed 0 times

  Just another week of the "new normal". Celebratory talk of "helicopter money," a melt-up in stocks, another terrorist attack in France and a coup attempt…

• Don't Mess with Turkey

  Published 23 July 2016 | viewed 0 times

  July 20 - Financial Times (Eric Platt): "The Turkish lira weakened a new record low against the greenback on Wednesday after the country was cut…

• Greenspan on Bubbles

  Published 02 July 2016 | viewed 0 times

  Bloomberg's Tom Keene (Monday, June 27, 2016): "If I take Paul Krugman and Alan Greenspan's primal cry, 'we want simple models.' Is our solution now…

• Majority Mad as Hell

  Published 25 June 2016 | viewed 0 times

  "In this unique exploration of the role of risk in our society, Peter Bernstein argues that the notion of bringing risk under control is one…

• Historic Crazy

  Published 11 June 2016 | viewed 0 times

  Friday was one of those market days that left an uncomfortable feeling in the pit of my stomach. U.S. markets have been resilient thus far,…

• Reminiscing about 2012

  Published 18 June 2016 | viewed 0 times

  Credit booms are powerfully reinforcing. New Credit provides additional purchasing power that spurs spending, economic output, corporate earnings/cash-flow and income growth. Monetary expansions, as well,…

• Monkey with Money at Your Own Peril

  Published 04 June 2016 | viewed 0 times

  With markets on the rather quiet side, I awoke Friday anticipating a more theoretical focus for this week's CBB. But then May's surprisingly dismal jobs…

• Just the Facts

  Published 28 May 2016 | viewed 0 times

  For the week: The S&P500 jumped 2.3% (up 2.7% y-t-d), and the Dow gained 2.1% (up 2.6%). The Utilities increased 1.0% (up 11.7%). The Banks…

• Unambiguous Signals Disregarded

  Published 21 May 2016 | viewed 0 times

  May 20 - Bloomberg (Susanne Walker Barton): "Treasuries fell, heading for their biggest weekly drop since November, as Federal Reserve officials indicated they're considering a…

• Ominous Portents

  Published 14 May 2016 | viewed 0 times

  Friday headlines from Bloomberg: "Retail Sales Rise Most in a Year, Marking U.S. Consumer Comeback" and "Consumers Turn Out to Be U.S. Growth Lifeline After…

• Inflection Point for EM

  Published 07 May 2016 | viewed 0 times

  Don't let the relatively tame week in the S&P 500 engender complacency. Perhaps it was not obvious, yet the trading week provided important confirmation for…

• The Red Line

  Published 30 April 2016 | viewed 0 times

  April 25 - Financial Times (Jennifer Hughes): "Stand easy -- or easier, at least. Ten basis points might not be the biggest one-day change for…

• More on China

  Published 23 April 2016 | viewed 0 times

  Let's return to last week's theme of China as the "marginal source of global Credit and liquidity" for a runaway global Bubble that has been…

• Pushing Desperate Measures Too Far

  Published 16 April 2016 | viewed 0 times

  Another unsettled week for global markets. Japan's Nikkei equities index rallied 6.5%. Italian bank stocks surged 10%, with the Europe STOXX 600 Bank Index up…

• Bubble Economy or Not?

  Published 09 April 2016 | viewed 0 times

  "The US economy has made tremendous progress in recovering from the damage from the financial crisis. Slowly but surely the labor market is healing. For…

• Another Coin in the Fuse Box

  Published 02 April 2016 | viewed 0 times

  It's not as if we're lacking history as to how this works. Some two decades ago the Greenspan Fed's "asymmetrical" (baby-step "tightening" measures versus aggressive…

• All is Not Well

  Published 25 March 2016 | viewed 0 times

  The 1987 stock market crash raised concerns for the dangers associated with mounting U.S. "twin deficits." Fiscal and trade deficits were reflective of poor economic…

• Q4 2015 Flow of Funds

  Published 19 March 2016 | viewed 0 times

  I'd been waiting patiently for the Fed's Q4 2015 Z.1 "flow of funds" report. The fourth quarter was a period of financial instability and tightened…

• Thesis Update

  Published 12 March 2016 | viewed 0 times

  With global risk markets staging a significant rally, it's an appropriate time to update my bursting global Bubble thesis. Three weeks ago I titled a…

• Facts Tonight and Commentary This Weekend

  Published 12 March 2016 | viewed 0 times

  For the week: The S&P500 gained 1.1% (down 1.1% y-t-d), and the Dow rose 1.2% (down %1.2). The Utilities jumped 2.4% (up 11.3%). The Banks…