Doug Noland: Q4 2015 Flow of Funds

BLUF It’s unclear whether a “secret Shanghai Accord” emerged from last month’s G20 meeting. There’s no doubt, however, that leading global monetary officials have orchestrated concerted policy measures going back (at least) […]

Doug Noland: Thesis Update

With global risk markets staging a significant rally, it’s an appropriate time to update my bursting global Bubble thesis. Three weeks ago I titled a CBB “Crisis Management.” My view was that […]

Doug Noland: The Global Bubble

Credit is not innately good or bad. Simplistically, productive Credit is constructive, while non-productive Credit is inevitably problematic. This crucial distinction tends to be masked throughout the boom period. Worse yet, a […]