Money and Finance
- John Mauldin: You Can’t Be Serious
I admit to being surprised by Cyprus. Oh, not the banking crisis or the sovereign debt crisis or the fact that its banks were eight times larger than the country itself or even the fact that the banks were bloated with Greek debt that had been written...
- Chou Funds: 2012 Semi-annual Report
Found via the Corner of Berkshire & Fairfax. Following up on a past letter, we continue to believe U.S. financial institutions are very cheap and TARP warrants associated with these companies are an attractive way to invest in them. Depending on the...
- Hussman Weekly Market Comment: Erasers
With regard to Europe, it’s interesting how the semantics of the phrase “everything necessary” has been used to obscure the differences between Euro-area countries when it comes to monetizing bad debt. The distinction can be seen in a comment last...
- Hussman Weekly Market Comment: A Brief Primer On The European Crisis
With regard to the problems in Europe, investors have taken a great deal of hope from the promise of coordinated central bank "liquidity" operations in the event of deterioration. The problem here, in my view, is that whatever amount of liquidity central...
- Excerpts From Dylan Grice's Latest Piece
And here enters a wistful historical counterfactual: how different might history have been if the Germans had inflated their economy when the crisis broke? It's impossible to say, of course. By 1931 the world was in depression. Germany would have...
Money and Finance
John Mauldin's Outside the Box: The Three Stages of Delusion - By Dylan Grice
The recent sequence of reassurances from various eurozone policymakers suggests we are in the early, not latter, stages of the euro crisis. Only an Anglo-Saxon style QE will prevent dissolution of the euro. Such a radically un-German solution will only be taken with a full acceptance of how serious the euro’s problems are. But denial persists.
The dawning of reality hurts. Prodded and bullied along a tortuous emotional path by events unforeseen and beyond our control, we descend through three phases: the first is denial that there is a problem; the second is denial that there is a big problem; the third is denial that the problem was anything to do with us.
- John Mauldin: You Can’t Be Serious
I admit to being surprised by Cyprus. Oh, not the banking crisis or the sovereign debt crisis or the fact that its banks were eight times larger than the country itself or even the fact that the banks were bloated with Greek debt that had been written...
- Chou Funds: 2012 Semi-annual Report
Found via the Corner of Berkshire & Fairfax. Following up on a past letter, we continue to believe U.S. financial institutions are very cheap and TARP warrants associated with these companies are an attractive way to invest in them. Depending on the...
- Hussman Weekly Market Comment: Erasers
With regard to Europe, it’s interesting how the semantics of the phrase “everything necessary” has been used to obscure the differences between Euro-area countries when it comes to monetizing bad debt. The distinction can be seen in a comment last...
- Hussman Weekly Market Comment: A Brief Primer On The European Crisis
With regard to the problems in Europe, investors have taken a great deal of hope from the promise of coordinated central bank "liquidity" operations in the event of deterioration. The problem here, in my view, is that whatever amount of liquidity central...
- Excerpts From Dylan Grice's Latest Piece
And here enters a wistful historical counterfactual: how different might history have been if the Germans had inflated their economy when the crisis broke? It's impossible to say, of course. By 1931 the world was in depression. Germany would have...