2011

Jeff Gundlach, a well known bond manager and DoubleLine Capital CEO, was on CNBC today talking about munis and high yield, two bond asset classes that have been moving in different directions of late. He was cautious on both classes saying…

After he was fired from "Two and a Half Men', Charlie Sheen posted the following video online. Sheen is up to 2.4 million followers on Twitter now.

Oil prices are moving higher today, due largely to news about Libya and OPEC. Algerian Oil Minister said that there was no shortage in the global oil markets and that an emergency OPEC meeting is not needed now. It also appears that…

By Marc Chandler The newly created European Banking Authority will be overseeing the stress tests on almost 90 European banks. Recall that the stress tests last year met broad criticism for the lack of rigor. It was anticipated that the…

About a year ago I wrote a post called "Out of control US deficit spending". The purpose of the post was to begin a series of posts presenting the modern monetary theory (MMT) framework from a deficit hawk's perspective, what I…

CoreLogic released its data analysis for the fourth quarter of 2010 showing that mortgage distress is still very widespread and that negative equity is the norm in many states in the U.S. (Hat tip Yves Smith). The data showed that the…

As promoters of MMT, we are all very keen on Abba Lerner, who was one of the first to articulate the foundations of the approach. Lerner believed that the government should maintain the level of aggregate spending in the economy (either by…

There have been two main surprises this year. The first is how the jasmine revolutions in MENA. It is one thing to recognize the fragility of those ancient regimes, it is another thing to watch a number of government's collapse. The second…

By Marc Chandler The yen is largely sidelined as the market's focus is elsewhere--ECB policy trajectory, the European debt crisis, MENA, etc. This is reflected by the fact that dollar-yen volatility (implied 3-month) is sitting on its…

The Obama Administration is keen to get this $20 billion mortgage settlement done. The prevailing view in the Administration is that the U.S. is in a fragile but sustainable recovery. With emerging markets leading the economic recovery and…