PrudentBear

“Financial operations do not lend themselves to innovation. What is recurrently so described and celebrated is, without exception, a small variation on an established design . . . The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.”

John Kenneth Galbraith, A Short History of Financial Euphoria

Commentary

Credit Bubble Bulletin

by Doug Noland | Jul 23

Trichet Challenges Inflationism

Global risk markets rally; the euro-zone gets through its bank stress test; and Trichet challenges inflationism.

The Bear's Lair

by Martin Hutchinson | Jul 23

The Policy Mix from Hell

The U.S. economy is sharply underperforming its competitors because it has been subjected to policy choices that were poorly designed and arbitrary in their application.

Featured Commentary

by Satyajit Das | Jul 8

Nowhere to Run, Nowhere to Hide!

The best course of action for Greece would be to "temporarily" (that is, for the next several hundred years) opt out of the euro and unilaterally re-denominate its debt into the "new" drachma.

Guest Commentary

by John Browne | Jul 28

America, the Odd Man Out

'Stimulating' the economy with a massive new round of government spending is a recipe for driving a recession into a depression.

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