Author Archives
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Doug Noland: Bubbles Always Burst
In my 30 years of studying Bubbles, a few things have become clear – I would argue indisputable: They always burst.
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Officially on “Periphery” Contagion Watch
Beijing has had ample time to research Bubbles, yet they still have limited actual experience with Credit booms and busts. China has no experience with mortgage finance and housing Bubbles. They have never before managed an economy with a massively leveraged corporate sector – with much of the borrowings via marketable debt issuance. They have no experience with a multi-trillion (US$) money-market complex – and minimal with derivatives. Beijing has zero experience with a banking system that has inflated to about $40 TN – financing a wildly imbalanced and structurally impaired economy (not to mention fraud and malfeasance of epic proportions).
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TSP Smart: Doug Noland’s Full Capitulation
The fact that Fed President chose the Fed’s 1998 response to talk about is chilling. And why mention Autumn of 2020 as the length of time to keep “inflation” running high… what inflation is he talking about? Is he saying “Mr. President, we will keep the stock market bubble inflating until the election”? Absolutely. Why? So the Fed can stay “independent”.