Tag Archives | Great Depression

Budgeting for the Cycle of Deflation

There is no “business as usual” scenario possible for the 2015-2017 Budget period.  Over the past 15 years (since the ”dotcom bubble” burst in 2000), policymakers have provided increasing amounts of stimulus to support the economy.  Now, finally, we are in the endgame, as the Great Unwinding takes place. This presents us all with major challenges: Most executives and investors under […]

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Interesting Quotes (2)

Credit market problems intensified last week, even though stock markets rallied strongly until Wednesday. I thought you might like to see some more comments on what is going on, from people close to the action. ‘Trust was shaken today (Wednesday). Credit depends on trust. If trust disappears, then credit disappears, and you have a systemic […]

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Every mania has its illusion

All the world’s media are now carrying accounts of the ‘liar loans’ and fraud that has accompanied the growth in US mortgage lending in recent years. How did this come about? All manias gain their strength from a widely believed ‘fact’ that turns out to have been an illusion. With subprime mortgage loans, the ‘fact’ […]

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