The Deadliest Virus
byThe deadliest virus is the institutionalized coercion which lies in the very DNA of the state and may even initially permit a government to…
Risk
How Markets Price a Pandemic—and How They Lower Risk
byIn economic terms, war and pandemic are the same without even evoking imagery of the virus as an invisible enemy or of a long…
The looming derivative crisis
byThe powerful forces of bank credit contraction are at the heart of a rapidly evolving financial crisis in global derivatives, whose gross value is…
Why the Fed’s Bazooka Will Not Stop a Wave of Corporate Defaults
byBy Benn Steil and Benjamin Della Rocca Acknowledging the enormous threat to jobs and incomes posed by the coronavirus epidemic, the Federal Reserve on…
Leveraged Loans – History Rhyming?
byDespite three Federal Reserve rate cuts, leveraged loan credit quality is rapidly declining Covenant-lite issues now account for more than 80% of US$…
Benn Steil: Did Russia Really Dump Its U.S. Debt?
byRussia dumped 84% of its American debt,” blared a July CNN headline. Russian central-bank head Elvira Nabiullina said the sales were just part of “diversifying the entire structure…
Zero Hedge — Citi: “There Is A Massive Problem” With The Bond Market
byIs the global economic recovery over? That is the question investors are grappling with just as Q1 earnings season – the best since 2011 with its…
Doug Casey: Comparing the 1930s and Today
byYou’ve heard the axiom “History repeats itself.” It does, but never in exactly the same way. To apply the lessons of the past, we…
Ease this
by“There is no simple, painless solution. The world has to reduce debt, shrink the financial part of the economy, and change the destructive incentive…
BIS Quarterly Report: “If I were you, I wouldn’t start from here.”
byThe latest BIS quarterly report can be found here: http://www.bis.org/publ/qtrpdf/r_qt1509.htm Relative to the IMF, World Bank and national central banks around the…