rcwhalen's blog

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Feldkamp: The Grinch That's Stealing Investors' Christmas





How the SEC handed large banks a monopoly on short-term finance in 1998 by amending Rule 2a-7 and made the 2008 financial crisis inevitable

 
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Feldkamp: The Macroeconomics of Crises and Fraud





Financial fraud is any method by which deception or duplicity induces those with money to "invest" in a scheme...   

 
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On Credit Default Swaps





"This is legal?" Stephanie Ruhle on CDS after watching "The Big Short" (Bloomberg TV) 

 
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Ike Brannon on Taxes, Income Inequality and Thomas Piketty





Peter the Great liked to confiscate successful businesses and put the owners to death... 

 
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Michael Whalen: Why the Streaming Music Business is Broken





Time for the musicians to learn the lessons that the video guys in Hollywood learned from them...

 
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Global Deflation & Credit Spreads





The results of the latest FOMC meeting confirm that most of the media and investor communities don't get the joke on Fed policy since the crisis.  No change in '15

 
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Central Banks, Credit Expansion, and the Importance of Being Impatient





QE makes sense only from a Keynesian/socialist perspective and ignores the long-term cost of low interest rate policies to individual investors and financial institutions.

 
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Swiss Francs & Global Debt Deflation





"There will first be a pernicious excitement, and next a fatal collapse." -- Walter Bagehot, Lombard Street (1844)

 
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Q4 2014 Large Bank Earnings Preview: Growth Amidst Deflation





Q: What is the fastest growing asset class at US banks? Leveraged loans? US Treasury debt? A: Reserves deposited at the Fed.

 
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Outlook 2015: Deflation Remains the Dominant Theme





Deflation and the attendant risks caused by a sudden revelation about hidden debts will remain the chief concern for investors and policy makers in 2015

 
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