Xi should have carefully studied Karl Marx’s theses on Credit (i.e., “Credit and Fictitious Capital”). Fixated on achieving global superpower status, Xi Jinping accommodated history’s greatest Bubble. There will be momentous fallout, for China and the world. At the Bubble’s… Read More ›
by Doug Noland Perhaps it goes back to a passage I recall reading years ago that recounted the 1929 experience: “Everyone was determined to hold their ground. But the ground gave way.” Difficult this week to shake that foreboding feeling…. Read More ›
The 25-year anniversary of the Russia/LTCM collapse offers a timely reminder of the perils of leveraged speculation. A series of Wall Street Journal articles touched on key issues. “Naturally things are completely different today. Back in 1998 there was a… Read More ›