Global Economy

Global Stocks Shake Off North Korea Jitters; Chinese Yuan Slides

Traders are eager to buy the latest dip, as US futures pared yesterday's losses before markets reopen after the Labor Day holiday, as global stocks looked to put any North Korean unpleasantries into the rear view mirror and assume another happy ending:

Yes, You Should Be Concerned With Consumer Debt

The mirage of consumer wealth has been a function of surging debt levels. “Wealth” is not borrowed, but “saved,” and this is a lesson that too few individuals have learned. Until the deleveraging cycle is allowed to occur, and household balance sheets return to more sustainable levels, the attainment of stronger, and more importantly, self-sustaining economic growth could be far more elusive than currently imagined.

The Two Parts Of Bubbles

"All the ingredients for a stock bubble are present. It’s not really a monetary bubble so much as an expectations bubble...when will people wake up from the hazy doses of self-deluded reality they have become emotionally attached to..."