“In this unique exploration of the role of risk in our society, Peter Bernstein argues that the notion of bringing risk under control is one of the central ideas that distinguishes modern times from the distant past. Against the Gods… Read More ›
Doug Noland
Doug Noland: Reminiscing about 2012
Credit booms are powerfully reinforcing. New Credit provides additional purchasing power that spurs spending, economic output, corporate earnings/cash-flow and income growth. Monetary expansions, as well, fuel inflating asset prices, most notably in securities and real estate. In both the Financial… Read More ›
Doug Noland: Historic Crazy
Doug’s Bottom line upfront: Credit Bubbles survive only so long as ample new Credit is forthcoming. Asset Bubbles persevere only so long as new “money” flows readily into the asset class and prices continue to inflate. I have argued that… Read More ›