David A. Rosenberg from Merrill Lynch has released an 11 page document called “Some inconvenient truths”. It is worth a read for its frank discussion of our current economic condition. Depressions are basically long recessions – they can last anywhere from three to seven years, while historically cyclical recessions last 18 months – and tend …
Tag Archives: economics
What would a modern depression look like?
The Boston Globe has an interesting piece on what a sustained economic downturn (like the great depression(s)) would look like in modern times: We are separated from the 1930s by decades of profound economic, technological, and political change, and a modern landscape of scarcity would reflect that… By looking at what we know about how …
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The End of Wall Street’s Boom
I found this to be a very interesting behind the scenes read: The End of Wall Street’s Boom His dinner companion in Las Vegas ran a fund of about $15 billion and managed C.D.O.’s backed by the BBB tranche of a mortgage bond, or as Eisman puts it, “the equivalent of three levels of dog …
Which way will it tip, part 2
It seems the question I asked early in the year has been soundly answered, for now. Deflation is the name of the current game, not inflation. Money supply has been demolished through credit collapse and hording of the leftovers. The surprising thing in all of this to me is how strong the US dollar has …
Another Frightening Show About the Economy
I have not yet listened to Another Frightening Show About the Economy from This American Life. Since it is from the guys that brought us The Giant Pool of Money (the excellent show about the housing crisis), I have very high hopes. Give it a listen if you want to learn about the credit market …
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