Over the course of the last few days we have been hearing renewed concerns in the real estate sector. We would like to take this opportunity to outline a few […]

Cicero is famous for several things, among which is the “Dum Spiro Spero” quote, implying that hope dies last. For weeks now, my colleagues and I have been contemplating drafting […]

It seems that the economic slowdown is taking root. The consensus forecast for the Philly Index that portrays manufacturing activity for the Eastern part of the country was expected to […]

As readers of our publications, presentations, and commentaries could confirm, for quite some time now we have been talking about the dangers of over-collateralization, especially of collateralizing paper-assets a.k.a. financial […]

James Cain’s book The Postman Always Rings Twice is an allegory of greed, passion, judgment, and even divine intervention. Frank (the novel’s main character) got away with murder the first […]

In our June newsletter, we announced that in a few months we will publish our research on what we believe to be a Chinese bubble. In that issue we showed […]

The period from the mid 1980s to the middle of 2007 is known as the period of great moderation, when inflation was low and stable, unemployment also was low, utilized […]

The following is a series of thoughts about the threat of deflation knocking at the door of the U.S. economy. The U.S. economic growth is most dependent on the consuming […]

The stress tests for Europe’s banking system have come and gone and now we feel obliged to provide you with our take. We prefer not to trust the fox guarding […]

As a break from our continued attention to the banking sector and the financial stress that persists around the globe we’d like to offer some thoughts on more general economic […]

This coming Friday, July 23, 2010, the EU will make public the results of the stress tests implemented on its banks. Three comments are in order prior to the release: […]