GDP Is Bogus: Here's Why

"So if we borrow money to pay people to dig holes and then fill them with the excavated dirt, GDP rises to general applause... The debt we took on to fund the make-work isn't accounted for at all."

Robert Shiller: 1987 Could Happen Again

"Oct. 19, 1987, was one of the worst days in stock market history. Thirty years later, it would be comforting to believe it couldn’t happen again. We are still at risk, however: That kind of panic can certainly happen again."

Krugman And The "Heroic" Fed

"Far from being the incorruptible general whose troops must clean up the wreckage left by the hurricane of free-market economics, the Fed usually is ground zero (or at least nearby) when it comes to economic crises."

A 52-"Weak" High For Stocks?

While the S&P 500 his on an impressive string of new highs, a number of them have come on questionable breadth.

If You Bought 30 Years Ago Today...

What would your returns be today if had you bought various assets the morning after the "Black Monday" crash? Deutsche Bank calculates the answer.

Frontrunning: October 19

  • Rajoy Deploys Ultimate Weapon of Law on Catalonia (BBG)
  • Congress Rolls Toward Shutdown Fight Over Immigration, Obamacare (BBG)
  • Hong Kong Stocks Tumble Most This Year as Geely, Developers Sink (BBG)
  • Inside battle imperils $230 million cryptocurrency deal (Reuters)
  • From Damascus, Iran vows to confront Israel (Reuters)