Fiscal Cliffs and Cocoa Puffs

By: Steve Maley (Diary)  |  December 18th at 11:17 PM  | 

In the old days, economic crises were organic events that reflected popular greed, economic instability and tangible fear. Speculative bubbles burst, bank depositors panicked and stock markets (and stockbrokers) plunged. No more. We have grown too sophisticated for all that.

Our economy has reached a degree of complexity that its crises must be planned, packaged and marketed just like Cocoa Puffs.

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Quantitative Easing – What Could Possibly Go Wrong?

By: TobyToons (Diary)  |  September 17th at 08:30 AM  | 

Making money out of thin air… what could possibly go wrong?

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Bond Market Distress: Updated

By: Francis Cianfrocca (Diary)  |  May 28th at 08:48 AM  | 

I’ve been telling people privately to watch the bond market for about a week now. Since last Thursday, we’ve seen a very sharp, fast drop in prices for medium and long-term US Treasury securities, which (in consequence) increases yields. The yield of the 10-year note, which is a critical indicator for mortgage rates, has leapt up above 3.70%, from below 3% just a few weeks | Read More »