Doug Noland

Prudent Bear

Contributor since: 26 Feb 2010

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• The Global Reflation Trade

  Published 26 April 2013 | viewed 0 times

  Global markets are nothing if not unstable. April 26 - Financial Times (Michael Steen): "Germany's Bundesbank has criticised the bond-buying programme designed by the European…

• Fault Lines

  Published 20 April 2013 | viewed 0 times

  More pressure on commodities, commodity currencies, commodity economies and equities. Yet another fascinating week - and one more week of anecdotes confirming the global Bubble…

• Things Have Gone Too Far

  Published 12 April 2013 | viewed 0 times

  It seems a case of too much liquidity for too long having chased too few global risk markets. Instability. "The Fed has been talking about…

• Kuroda Leapfrogs Bernanke

  Published 05 April 2013 | viewed 0 times

  Last August, in a CBB titled "Do Whatever it Takes," I drew parallels between the progression of experimental global central bank "money printing" to the…

• Invaluable Insight from Axel Weber

  Published 30 March 2013 | viewed 0 times

  Europe is again showing heightened fragility, while U.S. equities post a big first-quarter. The Cyprus fiasco has brought a number of important issues to the…

• Cyprus and Money

  Published 22 March 2013 | viewed 0 times

  It was a week of high-stakes drama for the euro zone. Last weekend saw Cyprus leaders and European officials agree to a "bail in" whereby…

• Insights from Former Fed Chairmen

  Published 15 March 2013 | viewed 0 times

  CNBC's Andrew Ross-Sorkin, March 15, 2013: "The question of the morning: Do you want to break out the phrase again, 'irrational exuberance'?" Alan Greenspan: "No,…

• Q4 2012 Flow of Funds

  Published 08 March 2013 | viewed 0 times

  For years, I would anxiously await the opportunity to sift through each new voluminous quarterly Z.1 "flow of funds" report. On a quarterly basis, the…

• Italy and 'Ro, Ro'

  Published 02 March 2013 | viewed 0 times

  It was a relatively quiet Monday, with the Dow flirting with all-time highs. Initial reports from the Italian election had the front-running coalition, led by…

• The Fed, Chinese Tightening and Distribution

  Published 23 February 2013 | viewed 0 times

  Federal Reserve Bank of St. Louis President James Bullard (February 21, 2013): "Let me just talk a minute about Jeremy Stein's speech - governor Stein…

• Hedge Funds Gone Wild

  Published 15 February 2013 | viewed 0 times

  I posited that Mario Draghi this past summer "singlehandedly" altered the global financial landscape. This miraculous feat was made possible with his bold guarantee of…

• New Bull or Bigger Ro,Ro?

  Published 08 February 2013 | viewed 0 times

  CNBC's Andrew Ross-Sorkin (February 7, 2013): "Are you worried about Europe, still?" Former Secretary of the Treasury and Goldman Sachs co-chairman Robert Rubin: "I think…

• Late-90s-Like

  Published 01 February 2013 | viewed 0 times

  "Dow, S&P 500 Post Best January since the 1990s," noted a USA Today headline. According to Reuters (Sam Forgione citing Lipper data), "Investors poured $12.71bn…

• Liquidity Bubble

  Published 25 January 2013 | viewed 0 times

  Ray Dalio is one of the foremost economic thinkers and investors of this era. His hedge fund empire now manages $130bn. He has taken on…

• How Crazy?

  Published 18 January 2013 | viewed 0 times

  I posed a rhetorical question in my "Issues 2013" piece: "How crazy do things get?" Granted, it's only been 13 trading sessions. But early Indications…

• A Credit Theory and 'Ro, Ro' Update

  Published 12 January 2013 | viewed 0 times

  My thesis contends that we are in that late-stage of a multi-decade global Credit Bubble. From a Macro Credit Theory perspective, this period of serial…

• Issues 2013

  Published 04 January 2013 | viewed 0 times

  "The Federal Reserve is heading in the wrong direction. What the central bank describes as 'unconventional monetary policy' is creating dangerous bubbles in asset markets…

• 2012 in Review

  Published 28 December 2012 | viewed 0 times

  "Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough." Mario Draghi,…

• Recalling John Law

  Published 21 December 2012 | viewed 0 times

  "There are good reasons to think that the nature of money is not yet rightly understood." John Law, 1720 (with the collapse of the Mississippi…

• Hotel California

  Published 14 December 2012 | viewed 0 times

  At least for today (perhaps because I'm a little under the weather), when it comes to the Fed I'm about all ranted out. So this…