by Wolf Richter • • Comments Off on Fed: Forget “Escape Velocity,” Not Gonna Happen, Ever
That illusory surge in the economy, trotted out for five years in a row to rationalize soaring stock prices? The Fed has wiped it from its vision of the future.
They’d piled into the new “risk sharing RMBS bonds” issued by Fannie and Freddie. Wall Street provided 80% leverage. Buying frenzy ensued. But it didn’t last long.
According to the official story, the people of Europe will benefit enormously from the banking union; it imposes greater control and tighter regulation of the banks and saves taxpayers from having to bail them out. Or so it would seem.
by Wolf Richter • • Comments Off on “If This Ends Badly, How Will Such Reports Be Read In Hindsight. Mad?”
Stocks soaring worldwide for years despite disappointing growth or outright recessions has turned rational investors into financial mincemeat. So here’s BofA’s cynicism on that phenomenon.
by Wolf Richter • • Comments Off on ‘It’s Like We Have Developed An Inability To Even See Risks’
My convo with a wealth manager at a megabank who’s been at it for 30 years, has seen three crashes while on the job, but unlike others in finance, hasn’t re-forgotten the lessons for the third time.
by Wolf Richter • • Comments Off on This Debt Is Explosive, And it Sits on the Shelf Everywhere, Waiting to go off
I was interviewed by Jorge Nascimento Rodrigues for “Janela na web” (a Portuguese site) and the printed edition of Expresso. After what I said, he might never interview me again :-]
