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

by John Rubino on November 18, 2014 · 7 comments

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 […]

 

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 […]

8 comments

Did Gold and Silver Just Get Their “Greenspan Put”?

The world’s central banks and derivatives traders have been having their usual fun with gold and silver lately, dumping huge volumes of futures contracts into thin markets to produce massive declines — just when precious metals SHOULD have been soaring in response to near-global debt monetization. But something interesting happened as this latest smack-down really […]

17 comments

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