Lawrence Lepard: Global Margin Call For A Leveraged World
Lawrence Lepard, managing partner with Equity Management Associates, just published a quarterly report in which he explains — among many other things — why current
Lawrence Lepard, managing partner with Equity Management Associates, just published a quarterly report in which he explains — among many other things — why current
It’s been obvious for a while that the next phase of global monetary madness would be both spectacular and very different from the previous phase.
Just a couple of weeks ago the financial world’s biggest worry was the plunging price of oil. Supply was up, stockpiles were building and speculation
There are trillions of dollars of bonds in the world with negative yields – a fact with which future historians will find baffling. Until now
Pushing interest rates below zero is both an act of desperation and something that in theory should have a huge, immediate impact of the behavior
When the financial markets got, um, choppy towards the end of 2018, the Fed caved almost instantly. But only rhetorically. Fed chair Powell promised to
Doug Noland’s weekly Credit Bubble Bulletin is always required reading. The latest – befitting the amazing things that have happened lately – is more necessary
A quick recap of the past couple of months: Stocks plunge. The politicians, bureaucrats and bankers who depend on artificially-elevated financial asset prices start to
Looks like we just hit an inflection point. So far this morning: U.S. new home sales drop to more than 2-1/2-year low (Reuters) – Sales
It’s long been an article of faith in the sound money community that the Fed, by bailing out every dysfunctional financial entity in sight, would
Just a few months ago, real estate was on fire. Prices were blowing past records set during the previous decade’s housing bubble as desperate buyers
Back in the 1500s, a financial agent of Queen Elizabeth I named Thomas Gresham observed that that “bad money drives out good.” That is, if
One of the oddest things in this increasingly odd world is the spread of negative interest rates everywhere but here. Why, when the dollar is
The theory was pretty straightforward: push interest rates down far enough — in some cases to negative territory where borrowers actually turn a profit on
One of the defining traits of the past few years’ “recovery” has been the torrent of money flowing from big banks to favored clients, and
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