Doug Noland

Doug Noland: Bubble Battles

The global government finance Bubble can at this point be simplified into six powerful intertwined forces: 1) Near zero rates and record low bond yields virtually across the globe contributing to generally loose fiscal spending and ever rising country indebtedness;… Read More ›

Doug Noland: Greenspan on Bubbles

Conventional analysis views the U.S. equities market as notably resilient, with trading action confirming the ongoing bull market. From my perspective, this week’s trading is further evidence of dysfunctional markets. The U.S. stock market casino in particular has reached the… Read More ›

Doug Noland: Another Coin in the Fuse Box

It’s not as if we’re lacking history as to how this works. Some two decades ago the Greenspan Fed’s “asymmetrical” (baby-step “tightening” measures versus aggressive rate slashing and market support) policy approach emboldened speculation and nurtured precarious Bubble Dynamics. “Asymmetrical”… Read More ›

Doug Noland: Thesis Update

With global risk markets staging a significant rally, it’s an appropriate time to update my bursting global Bubble thesis. Three weeks ago I titled a CBB “Crisis Management.” My view was that mounting global market instability had reached the point… Read More ›

Doug Noland: The Global Bubble

Credit is not innately good or bad. Simplistically, productive Credit is constructive, while non-productive Credit is inevitably problematic. This crucial distinction tends to be masked throughout the boom period. Worse yet, a prolonged boom in “productive” Credit – surely fueled… Read More ›

Doug Noland: Issues 2016

Did your financial advisor warn you? “…my risk aversion indicators are indicating a potential market crash anytime in the next few weeks… selling pressure may occur before the end of the year similar to 2007 and 2014..”                                                           – TSP… Read More ›

Doug Noland: 2015 Year in Review

The year 2015 was extraordinary. Incredibly, despite powerful confirmation of the bursting global Bubble thesis, market optimism remained deeply entrenched. All leading strategists surveyed in December by Barron’s remained bullish – some were borderline crazy optimistic. Optimism withstood a commodity… Read More ›