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Most of the World Panics — Is the US Next?

by John Rubino on November 23, 2014 · 26 comments

It’s been quite a month. In late October Japan, despite a year of fairly aggressive quantitative easing, dropped back into recession and concluded that even easier money was the cure for its ills. It announced a debt monetization plan of almost science-fictional proportions in which the amount of new yen to be created, as a […]

 

What Blows Up First? Part 5: Shale Oil Junk Bonds

One of the surest signs that a bubble is about to burst is junk bonds behaving like respectable paper. That is, their yields drop to mid-single digits, they start appearing with liberal loan covenants that display a high degree of trust in the issuer, and they start reporting really low default rates that lead the […]

11 comments

Inflation Chronicles, Part 1: Art Prices So High, “The Crowd Forgot To Clap”

Depending on which expert is talking, the world is either falling into a deflationary abyss or launching an inflationary moonshot. What’s truly weird and fascinating is that they’re both right. The mountain of debt taken on in the past few decades exerts a profoundly deflationary pull on the economies of Europe and Japan, and to […]

9 comments

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