I have been away from the screens since Tuesday last week. It was quite nice to get a little R and R time on the powdery slopes before my marketing trip through Paris, London, Stockholm and Madrid commences this week. It was also nice to step away from the hysterical...
If the US Treasury issued overnight T-bills and bought 30 year MBS it would be no different than the Fed buying 30 year MBS for cash and paying interest on excess reserves. When it comes to balance sheet expansion (or contraction) at the zero interest rate bound,...
I spoke with a number of economists whose opinion I value highly since the PPI and CPI releases last week. These are folks who were NOT looking for any material upside risks to inflation in the coming quarters (or years frankly). Their song seemed to be changing after...
Both Europe and the US had debt bubbles which popped. Banks on both sides of the Atlantic do not hold enough capital to cover the losses associated with the poor lending decisions from the previous decade. The folks with 200 LTVs in Las Vegas are no different than...
I have been fortunate enough to speak at a conference out in Las Vegas over St. Patrick's Day and the NCAA tipoff party this week. At the conference we have discussed and debated the global crisis environment for hours on end -but in the bubble that is the rest of Las...
I have been fortunate enough to speak at a conference out in Las Vegas over St. Patrick's Day and the NCAA tipoff party this week. At the conference we have discussed and debated the global crisis environment for hours on end -but in the bubble that is the rest of Las Vegas one sees and […]
