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The US Corporate Debt Bomb, Europe’s Recession, and Systemic Risk in China

The US Corporate Debt Bomb, Europe’s Recession, and Systemic Risk in China Yesterday’s note caught a lot of attention. In it, we argued that investing in stocks today based on the Fed getting dovish is like buying stocks after the Bear Stearns deal: you’re buying based on a development that reveals the financial system is in […]

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The Biggest Emerging Market Debt Problem Is in America

Getty Images The Biggest Emerging Market Debt Problem Is in America A decade after the subprime bubble burst, a new one seems to be taking its place in the market for corporate collateralized loan obligations. A world economy geared toward increasing the supply of financial assets has hooked market participants and policymakers alike into a […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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