Lehman Brothers

Do Central Bankers Know A Bubble When They See One?

In spite of being exposed in what is either a self-exculpating lie (the claim that bubbles can only be seen after they burst) or a sign of gross incompetence (the failure to see two of the largest financial bubbles in history), no Fed official has ever been asked to explain or rationalize the Fed’s contradictory positions on bubbles.

Tomorrow's Vote In Italy Will Be A "Wide-Ranging F**k Off", And It's Just The Start...

"It's crazy. This is the explosion of an era. It's the apocalypse of the media, TV, the big newspapers, the intellectuals, the journalists… This is a wide-ranging F*** off." Italy is the next flashpoint. A “No” vote in Italy is virtually assured at this point. But it won’t be the end of the anti-elite surge. Voters in Europe’s biggest countries could soon throw out their “mainstream” parties in favor of populist and Eurosceptic alternatives...

How December 4th Could Trigger The "Most Violent Economic Shock In History"

Italians are angrier now than they’ve been since they hung Il Duce up by his heels in 1945. Italy has had no productive growth since 1999. Real GDP per person is smaller than it was at the turn of the century. That’s almost two decades of economic stagnation. By any measure, the Italian economy is in a deep depression. And things will probably get much worse. It’s no surprise Italians are in a revolutionary mood...