financial history

by Annaly Capital Management Following up on our post from Friday, in which we illustrated the currency reserve and GDP market share of a number of different countries, a kind reader asked a question: “I wonder what percentage of the…

The recent sequence of reassurances from various eurozone policymakers suggests we are in the early, not latter, stages of the euro crisis. Only an Anglo-Saxon style QE will prevent dissolution of the euro. Such a radically un-German…

Ever since the U.S. financial crisis in 2008 there have been many comparisons to Japan and their "lost decade." Most comparisons mark the start of each financial crisis as the end of 1989 for Japan and 2007 for the U.S. We believe each…

Politics will not get nearly as crazy or as radicalized as they did in the 1930s. There are much more robust mechanisms today for transferring and sharing adjustment costs. But it is hard to imagine that the kinds of disruptive political…

I am still in catch-up mode this morning but I wanted to highlight a few points on the Irish bailout. The first has to do with the European stress tests. If you recall, the two Irish banks tested were Bank of Ireland and Allied Irish…

Jeff Clark looks at the big moves in silver in the current bull market, and what those moves might suggest about a “safe” price range to re-enter the market. That said, given yesterday’s market action, it would appear that the correction…

by Michael Pettis Last week I suggested that slowly the consensus is shifting towards a recognition that Chinese growth may slow sharply in the next few years.  When I discuss this prospect with analysts and investors, however, they…

Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). "igher stock prices will boost consumer wealth and help increase…

by L. Randall Wray In recent weeks, the explanation for the financial and economic crisis that has gripped the world economy has shifted sharply from deregulation and lack of governmental oversight of financial institutions to fraud and…

John Hussman says about this chart: Based on our standard methodology (see The Likely Range of Market Returns in the Coming Decade for the basic approach) we estimate that the S&P 500 is priced to achieve a 10-year total return of…