In a way, it’s all going down as it typically would. “Risk off” gains sufficient momentum to spark destabilizing deleveraging. Markets approach the [...]
After three decades, I remain as skeptical as ever. Unconstrained Credit is destabilizing. Market-based (as opposed to traditional bank) finance took hold [...]
Ten-year Treasury yields fell 16 bps this week, reversing about a third of last week’s spike. MBS yields dropped 19 bps after last week’s 56 bps surge. The [...]
Please join Doug Noland and David McAlvany this coming Thursday, April 17th, at 4:00 pm Eastern/2:00 pm Mountain Time for the McAlvany Wealth Management [...]
“Worse than the worst-case scenario.” “Liberation day,” a day that will live in infamy. Financial Times Editorial Board: “America’s Astonishing Act [...]
A disconcerting environment turned notably more so this week, with market instability becoming more serious. If risk aversion gathers momentum from here, [...]
Somehow, it staged a remarkable comeback. “Transitory” was spoken five times during the post-meeting press conference, twice by Chair Powell: “As I’ve [...]
The thesis holds that a multi-decade super cycle Credit Bubble – over recent years succumbing to “terminal phase excess” – has turned [...]
Wikipedia’s definition will suffice: “The term exorbitant privilege refers to the benefits the United States has due to its own currency (the US dollar) [...]
A challenge to focus on market analysis after viewing the most disturbing Oval Office spectacle of our lifetimes. I was more than ready to disregard another [...]
“Bubbles are mechanisms of wealth redistribution and destruction – with detrimental consequences for social and geopolitical stability. Boom periods [...]
February 13, 2025: For the record, the S&P500 gained 1.04% for the session, and the Nasdaq100 jumped 1.43%. The Semiconductors rose 1.29% and the Russell [...]
