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Tag Archives: Housing Bubble

A Biased 2017 Forecast, Part 1

“The idea that the future is unpredictable is undermined every day by the ease with which the past is explained.” – Daniel Kahneman, Thinking, Fast and Slow A couple weeks ago I was lucky enough to see a live one hour interview with Michael Lewis at the Annenberg Center about his new book The Undoing Project. Everyone attending the lecture received a complimentary copy of the book. Being a huge fan of Lewis after...

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Where Will All the Money Go When All Three Market Bubbles Pop?

Since the stock, bond and real estate markets are all correlated, it’s a question with no easy answer. The Everything Bubble Everyone who’s not paid to be in denial knows stocks, bonds and real estate are in bubbles of one sort or another. The Housing Bubble Real estate is either an echo bubble or a bubble that exceeds the previous bubble, depending on how attractive the market is to hot-money investors. S&P /...

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Gold And Negative Interest Rates

The Inflation Illusion We hear more and more talk about the possibility of imposing negative interest rates in the US. In a recent article former Fed chairman Ben Bernanke asks what tools the Fed has left to support the economy and inter alia discusses the use of negative rates. We first have to define what we mean by negative interest rates. For nominal rates it’s simple. When the interest rate charged goes negative we have negative nominal rates. To get the real rate of interest we have...

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Every Single Bloody Market Is Manipulated … See For Yourself

Gold and Silver Are Manipulated Deutsche Bank admitted today that it participated with other big banks in manipulating gold and silver prices. In 2014, Switzerland’s financial regulator (FINMA) found “serious misconduct” and a “clear attempt to manipulate precious metals benchmarks” by UBS employees in precious metals trading, particularly with silver. Reuters reported: Swiss regulator FINMA said on Wednesday that it found a “clear attempt” to manipulate precious metals benchmarks during...

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