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July 7, 2024 Readings
July 7, 2024 Readings War is Peace: Andrew Carnegie’s “Temple of Peace” in the Hague–Dr. Jacob Nordangard GOP Senate Farm Bill Framework, Similar to House Bill, Elevates Threat to Health, Biodiversity, and Climate – Beyond Pesticides Daily News Blog Crash Or Bear Market, Either Way Stocks Going “Down, A Lot”: Mark Spiegel–Quoth the Raven 150 […]
Don’t Talk To Me About Solutions
Don’t Talk To Me About Solutions The System Itself is the Problem It’s 2024 and I’m suspicious of “solutions”. Solutions to what, exactly? The excess greenhouse gases in the atmosphere that have already seen us breach the 1.5 degree limit set by the Paris Agreement? The ocean acidification that’s bleaching corals en masse? The rampant […]
A Banking Crisis Looms
General view of the Bank of England, in the financial district known as The City, in London on Aug. 2, 2021. (Alberto Pezzali/AP Photo) A Banking Crisis Looms My columns have turned rather apocalyptic of late, but for a valid reason. Just this week, we got confirmation that our financial system is, again, on the […]
Could The Fed Trigger The Next “Financial Crisis”
Could The Fed Trigger The Next “Financial Crisis” Could the Fed trigger the next “financial crisis” as they begin to hike interest rates? Such is certainly a question worth asking as we look back at the Fed’s history of previous monetary actions. Such was a topic I discussed in “Investors Push Risk Bets.” To wit: “With the entirety […]
Lack Of New Fossil Fuels Investment May Trigger A New Financial Crisis
Lack Of New Fossil Fuels Investment May Trigger A New Financial Crisis I am an oilfield veteran of 38+ years. Retired from Schlumberger since 2015. My background is drilling and completion fluids. I have authored a number of technical papers on completion topics. I have worked around the world- Brazil, Russia, Scotland, and the Far […]
The Threat Board is Looking Busy
The Threat Board is Looking Busy Markets are never as bad as you fear, but never as good as you hope. The Threat Board has seldom looked so complex: we can try to predict outcomes, but its notoriously difficult. The list of potential ignition points seems to be expanding exponentially: Energy Prices, Oil, Inflation, Stagflation, […]
Former Lehman Trader On “China’s Lehman Moment”
Former Lehman Trader On “China’s Lehman Moment” My name is Larry McDonald, that is the UK cover above. In the years before the failure of Lehman Brothers, I ran a successful distressed credit business at what was the 4th largest investment bank in the U.S. – becoming one of the most consistently profitable traders in […]
Seven Possible Causes of the Next Financial Crisis
Seven Possible Causes of the Next Financial Crisis The great financial historian, Charles Kindleberger, pointed out in the 1970s that over several centuries, history showed there was a financial crisis about once every ten years. His observation still holds. In every decade since his classic Manias, Panics and Crashes of 1978, such crises have indeed continued to […]
Whatever happened to that “imminent” banking crisis?
Whatever happened to that “imminent” banking crisis? In the aftermath of the 2008 financial crisis, many of us in the hedge fund industry expected continuing fallouts from the unresolved imbalances that were papered over with monetary and fiscal stimuli by governments and central banks. These measures failed to address, let alone resolve the systemic causes […]
What Interest Rate Triggers The Next Crisis?
What Interest Rate Triggers The Next Crisis? The Ten-year U.S. Treasury note yields 1.61%. 10-year high-quality corporate bonds yield 2.09%. The rate on a 30-year mortgage is 3.05%. Despite recent increases, interest rates are hovering near historic lows. We do not use the word “historic” lightly. By “historic,” we refer to the lowest levels since […]
The Coming Financial Crisis of 2021
The Coming Financial Crisis of 2021 Economist Steve Keen issues new warning Economist Steve Keen predicts that even if the covid-19 health crisis subsides next year, a brewing financial crisis on par with the 2008 Great Recession is in the making. He sees the pandemic as having delivered an “unprecedented shock” to the global economy, […]
The anatomy of a financial crisis
The anatomy of a financial crisis In this blog, we present the anatomy of a financial crisis. A characteristic feature of a banking crisis is that it tends to follow, more-or-less, the same path regardless of the ‘shock’ or ‘trigger’ that initiates it. The next phase of the crisis is likely to be a global […]
The COVID Bait & Switch
The COVID Bait & Switch QUESTION: Do you really think that the Democratic leadership is trying to hurt people? FD ANSWER: It is not just the Democrats. We are looking at politicians around the world. It makes no sense with such a low death rate that is equivalent to the flu and all the forecasts of Neil […]
Turkey’s 2nd Financial & Currency Crisis in 2 Years Blossoms. Heavily Invested European Banks Look for Exit. But Not the Most Exposed Bank
Turkey’s 2nd Financial & Currency Crisis in 2 Years Blossoms. Heavily Invested European Banks Look for Exit. But Not the Most Exposed Bank Big Gamble that was hot for years has gone sour after Turkish lira’s plunge and surge of defaults on bank debts denominated in foreign currency. As the Turkish lira logged fresh record lows […]
Paper Assets And Promises Often End In Default
Paper Assets And Promises Often End In Default During times of financial disruptions defaults rise in importance and move front and center. The term financial crisis is applied broadly to a variety of situations in which some financial assets suddenly lose a large part of their nominal value, a default falls into this area. In the […]
