debt

by Edward Hugh For reasons which aren’t worth going into now, I’m reading through a recent report by Deutsche Bank Global Markets Research entitled “From The Golden To The Grey Age” this afternoon. The report (all 100 pages of it, many…

...And the Coming Capital Controls A cross-post from this past Monday by Michael Hudson, President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of…

Irving Fisher was a leading economist in the early 20th century. After being caught out during the Great Depression (he famously quipped, "Stock prices have reached what looks like a permanently high plateau." right before the…

Here we go again: the dollar appears to be under sustained attack in the foreign exchange market. To judge from its latest FOMC statement, the Federal Reserve appears to be actively encouraging inflation: “The Committee will continue to…

See video below for a discussion of this theme (hat tip Barry Ritholtz). This is a very good video for learning about how debt deflationary spirals are created by the "fallacy of composition" and how it applies to countries in a…

by Michael Pettis On Wednesday I will be putting up my piece on the politics of China’s adjustment process, but before doing that I wanted to mention a few recent particles worthy of comment.  First, Jamil Anderlinin has a long and…

by Annaly Capital Management Last Friday was a Z.1 Flow of Funds day, always a fun day. The 137 page report from the Federal Reserve features data for the second quarter of 2010. Total credit market debt outstanding grew slightly during…

by Comstock Partners For some time it has been our view that the recent recession, unlike all other post-war recessions, was caused by a credit crisis, and that it would therefore be followed by a series of weak recoveries and frequent…

By Annaly Capital Management Ireland’s rating downgrade by Standard & Poor's on August 24 and the related news of its struggling millstone, Anglo Irish Bank , bring our attention back to the ongoing challenges facing sovereign entities…

By Win Thin, Senior Currency Strategist, BBH In light of recent attention on Eastern Europe, here are some thoughts on Romania. The government has been unable to sell local debt at its self-imposed cap of 7% because investors have been…