“The world was all before them where to choose their place of rest and Providence their guide. They hand in hand with wandering steps and slow through Eden took, their […]

A few days ago, Vladimir Putin called his annual gathering of academics, journalists, and other analysts a.k.a. the Valdai meetings, at his vacation home in Sotsji, Russia. The leader of […]

Just a few days ago, Jurgen Stark, a member of the Executive Board of the ECB (European Central Bank) said that German banks would require more capital. According to Basel […]

The official start of the fall season is upon us. Music is still played over loud speakers and the politicians plan for their rallies and agendas. Over the wires, we […]

Our commentary last Monday August 30th outlined the present circumstances surrounding China. Our September newsletter discussed the facts that may lead to a Chinese collapse. This commentary discusses, the day […]

In 1979, a movie came out starring Jack Lemmon, Jane Fonda, and Michael Douglas. The title of the movie was The China Syndrome. The movie – in the spirit of […]

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 […]