"No warning can save people determined to grow suddenly rich" - Lord Overstone
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Gold •153 days | 2,368.70 | +35.30 | +1.51% |
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Platinum •10 mins | 958.60 | +8.20 | +0.86% |
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WTI Crude •10 mins | 70.00 | +1.90 | +2.79% |
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Gasoline •10 mins | 1.960 | +0.043 | +2.24% |
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Ethanol •153 days | 2.161 | +0.000 | +0.00% |
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Silver •153 days | 30.82 | +1.16 | +3.92% |
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Silver • 153 days | 30.82 | +1.16 | +3.92% | |
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Copper • 153 days | 4.530 | +0.111 | +2.51% | |
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Brent Crude • 10 mins | 73.65 | +1.82 | +2.53% | |
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Natural Gas • 10 mins | 3.067 | -0.146 | -4.54% | |
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Heating Oil • 10 mins | 2.223 | +0.046 | +2.09% |
Markets
The Return on U.S. Assets
It is our definite view that the U.S. financial system is in fact at the epicenter of the developing crisis, and one simply cannot overstate the momentous ramifications for the…
The Credit Bubble Bulletin
We said in a prior missive that the players had learned that it made sense to "engineer" credit so that it required no lender capital, reserves or regulatory scrutiny. To…
'U.S. High-Yield Lending...'
In the contemporary environment where money is little more than electronic IOUs (liabilities) from financial institutions and intermediaries, I believe a more applicable law would hold that bad lending drives…
Monetary Processes and Current Vulnerabilities
It is our basic premise that the U.S. monetary system (as well as global) is both fundamentally and severely flawed, and that an extremely unstable system again finds itself acutely…
Financial Dysfunctions
As I have written previously, it is my view that we are at the precipice of a financial and economic crisis unlike anything seen in this country since the collapse…
Mehrling on Minsky
Peter Mehrling's paper describes how Minsky was an institutionalist and, critically, how the economy was monetary in character. The key is to focus on individual economic units companies, individual households,…
Here We Go Again...
With negative news from super-heavyweights IBM and Chase Manhattan, in addition to a collapsing junk bond market and faltering stocks and currencies throughout Asia, as well as globally, Wednesday was…
Liquidity
Unsettled conditions dominate the credit market as well, as unfolding financial dislocation and a crisis in the Middle East fostered a major stampede into Treasury securities. For the week, 2-year…
Accolades to the Unknown Inquisitor
Not only do we disagree completely with his focus on the New Paradigm, we are rather astounded that the Dallas Federal Reserve's website so propagandizes the New Economy. This is…
A Tale of Two Bubbles
Not unexpectedly, the stock market turned even more chaotic this week, with the technology sector being the wildest of rides. For the week, the Dow dropped just under 2% and…
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