Author Archives

  • Doug Noland: Drone Money

    By on

    It was obvious the Fed had really blown it. That this academic, and recently appointed Fed governor, referred to the “bubble poppers” from the late-twenties and their role in fomenting the Great Depression made it difficult not to be disdainful. I underestimated both the man and the world’s gullibility.

  • Doug Noland: Utmost Crazy (Stock Market Bubble)

    By on

    ‘There’s no way I can lose,’ said the 36-year-old, who works at a technology startup… ‘Right now, I’m feeling invincible.’

    It is a central tenet of Credit Bubble Analysis that things turn “Crazy” near the end of cycles. And with the thesis that we’re in the concluding (“Terminal”) phase of a multi-decade, super-cycle global Bubble, there’s been every reason to foresee Utmost Craziness.

  • Doug Noland: More W than V

    By on

    Global markets remain haunted by the specter of an unwind of unprecedented speculative leverage. When markets break to the downside, there is clear potential for another episode of derivative-related selling that would panic buyers.