subprime mortgages

Collateral Reserves: What Is Behind Record Low and Negative Yields

By |2019-08-19T17:40:52-05:00August 19th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It was truly startling when it was announced. The second and more dangerous phase of the Global Financial Crisis had begun on July 15, 2008. Within two weeks, Merrill Lynch had etched its name on the growing list of “troubled” institutions. On July 28, 2008, Merrill Lynch agreed to sell $30.6 billion gross notional amount [...]

Trade Wars Will Be The New Subprime

By |2019-05-31T16:23:12-05:00May 31st, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Trade wars are rapidly turning into subprime mortgages. A few billion in tariffs will have wrecked the entire global economy, they’ll claim. Just like all that toxic waste subprime mortgage fiasco led inevitably to the Great “Recession” and global panic. Neither will be true, except insofar as both were symptoms of the far greater cause. [...]

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