Money and Finance
- Hussman Weekly Market Comment: Do Foreign Profits Explain Elevated Profit Margins? No.
Link to: Do Foreign Profits Explain Elevated Profit Margins? No.The bottom line is simple. Corporate after-tax profits as a share of GDP, GNP (or even net national product if one wishes to use that number) are steeply above historical norms. This fact...
- The Financial Sense Newshour Interviews Kyle Bass
Found via Zero Hedge. Kyle: When you think about what Reinhart and Rogoff’s book says, it kind of gets to an answer but it’s not the right way to look at things; there are many more variables to analyze the situation with. One is, of course, debt...
- Richard Duncan Quote
“In 1968, the ratio of credit to gold was 128 times and the ratio of credit to the money supply was 2.4 times. By 2007, those ratios had expanded to more than 4,000 times and 6.6 times, respectively. Notice, also, the extraordinary expansion of the...
- Cbo Report: Trends In The Distribution Of Household Income Between 1979 And 2007
From 1979 to 2007, real (inflation-adjusted) average household income, measured after government transfers and federal taxes, grew by 62 percent. During that period, the evolution of the nation’s economy and the tax and spending policies of the federal...
- Hussman Weekly Market Comment: Simple Arithmetic
As I've noted several times in recent months, bond market spreads imply very low near-term (3-6 month) probability of default in any Euro-area country. A sovereign default is much more likely to occur near the end of the next bear market, whenever...
Money and Finance
Richard Duncan quotes
“The surge in debt, asset prices, and spending generated strong growth in profits. As total credit market debt doubled between 1999 and 2007, so did profits—for both the financial sector and the nonfinancial sector.
Higher income and higher profits produced higher tax revenues for all levels of government. Federal tax revenues increased five times between 1980 and 2007. State and local tax revenues rose three times between 1988 and 2007. The surge in tax revenues made possible an even greater increase in government spending, which, in turn, created still more economic growth.”
–Richard Duncan, The New Depression
- Hussman Weekly Market Comment: Do Foreign Profits Explain Elevated Profit Margins? No.
Link to: Do Foreign Profits Explain Elevated Profit Margins? No.The bottom line is simple. Corporate after-tax profits as a share of GDP, GNP (or even net national product if one wishes to use that number) are steeply above historical norms. This fact...
- The Financial Sense Newshour Interviews Kyle Bass
Found via Zero Hedge. Kyle: When you think about what Reinhart and Rogoff’s book says, it kind of gets to an answer but it’s not the right way to look at things; there are many more variables to analyze the situation with. One is, of course, debt...
- Richard Duncan Quote
“In 1968, the ratio of credit to gold was 128 times and the ratio of credit to the money supply was 2.4 times. By 2007, those ratios had expanded to more than 4,000 times and 6.6 times, respectively. Notice, also, the extraordinary expansion of the...
- Cbo Report: Trends In The Distribution Of Household Income Between 1979 And 2007
From 1979 to 2007, real (inflation-adjusted) average household income, measured after government transfers and federal taxes, grew by 62 percent. During that period, the evolution of the nation’s economy and the tax and spending policies of the federal...
- Hussman Weekly Market Comment: Simple Arithmetic
As I've noted several times in recent months, bond market spreads imply very low near-term (3-6 month) probability of default in any Euro-area country. A sovereign default is much more likely to occur near the end of the next bear market, whenever...