Credit Bubble

The Exquisitely Reengineered Frankenstein Housing Monster

It’s back, a new and improved contraption, a synthetic structured security that on its polished surface looks like that triple-A rated mortgage-backed toxic waste that helped blow up the banks and your 401(k) in 2008. But this time, it’s different. It’s even worse.

A Very Unfinished Recession, For Most Americans

Statistically speaking, the Fed’s heroic actions conquered the Great Recession years ago.The economy has been growing at a measurable clip, statistically speaking, with the unemployment rate inching lower over the years, though again, that’s just statistically speaking. But most Americans, struggling to make ends meet in the real economy far from the hoopla, hype, and buzz of Wall Street or Silicon Valley, have a more accurate answer.

Plagued By Indigestion, Fed Issues Asset-Bubble Warning

Hidden in the middle of the 25-page minutes of the last meeting, under the most wooden and convoluted prose, the Fed issued a doozie of a warning: it fretted about financial stability. It named soaring forward P/E ratios, stock buybacks, margin credit, and leveraged loans.