Author Archives

  • 2025 Year in Review

    By on

    With 2026 raging, let’s get a “year in review” wrapped up and quickly move on. It was a year for the history books, and I will not attempt a comprehensive review of developments. At the end of a historic super cycle, it’s either Bubble bursts or Bubble excess that goes to even crazier extremes. Crazier extremes owned 2025 – at home and abroad. The aged global government finance Bubble reached a new pinnacle.

  • Doug Noland: Global Monitoring Report on NBFI

    By on

    While failing to do anything about it, global officials have at least made commendable headway in compiling and monitoring financial excess.

  • It’s Back

    By on

    The bond market has reason to gaze around the table and wonder who’s the sucker.