Markets

Apr 25, 2003 at 00:00

The bottom line is that unprecedented mortgage Credit growth runs unabated, with it likely that the first quarter will post another period of double-digit household debt growth (on top of…

Apr 18, 2003 at 00:00

It is again earnings season, providing our best opportunity to analyze the behavior of the nation’s leading financial institutions. Are the lenders, financial insurers, and "risk players" becoming, at the…

Apr 11, 2003 at 00:00

The very essence of a gold standard is to harness money and Credit creation, thus tempering destabilizing excess. A sober Credit system specifically does not incite the type of wild…

Apr 04, 2003 at 00:00

The bottom line is that the Credit system remains extraordinarily over-liquefied, with investors and the momentous speculating community chasing performance and desperate for yield. The Mortgage Finance Bubble inflationary "blow-off"…

Mar 28, 2003 at 00:00

Looking back, HSBC's acquisition (bailout) of troubled Household International this past October was a seminal event with respect to tranquilizing acute financial fragility. Recently the market witnessed faltering subprime auto…

Mar 21, 2003 at 00:00

Then there is the truly massive Leveraged Speculating Community that will respond aggressively to any meaningful market move, either increasing bets (responding to faltering markets along with expectations of heightened…

Mar 14, 2003 at 00:00

That derivative growth runs unabated (accelerating?) is the striking feature of this data. Yet this is perfectly consistent with our view that the overriding role played by derivatives is to…

Mar 07, 2003 at 00:00

Let’s not loose sight of the reality of the situation: The Heart of the matter is the quality of financial sector assets. Is this vital organ healthy, properly regulating the…

Feb 28, 2003 at 00:00

Keeping in mind our theme that economic imbalances are today a Key Credit Inflation Manifestation, we discern only greater regional disparities going forward. The Chicago Purchasing Manager index came in…

Feb 21, 2003 at 00:00

Money and Credit Inflation is, all the while, seductive, misunderstood, too easily misinterpreted, and held as seemingly to the great betterment of many and the benefit of most. Importantly, the…