In Credit, Searching For The Last Straw
Yes, it’s going to crack, but where first?
Yes, it’s going to crack, but where first?
Fragility and a lack of policy breathing room.
Brace yourselves.
“Hello Dave”.
“Since WWII, the number of mass killings (defined as an idiosyncratic, not state-sanctioned, killing spree with multiple victims) has been growing exponentially at a rate of 5% every year. This means that every 20 years or so, the number of mass killings triples (1.0520Â = 3).”
“For all practical purposes, such liquidity should be expected to evaporate entirely.”
On Thursday morning, following the systematic unwind that precipitated the worst day for U.S. stocks
“This is fine.”
“…this time without financial media concern.”
More tantrum symptoms, more fragility.
“The changes, the inflections that are made happen unemotionally and happen with significant leverage behind them.”
Around the world in 2,100 words.
And see, that’s where the problem comes in.
“Yesterday did not feel ‘quant-y’ to me.”
I think the “oranges” may “know” more than they think.
Turning the screws.
“What we need is positive attitude and conviction.”
“Rationality is a wonderful thing. However”…
The fallout continues and sovereign debt is back on the table.
“It feels like he is on a highway driving against the traffic and is pushing the gas pedal.”
In favor, that is.
Remember January?
“Try Googling “Canadian banks 2008 crisisâ€.
Trade, immigration and “covfefe” – what else is there?
“We know prices in the three digits were causing instability”.
“It appears ‘indestructible’, but not in a conventional way, more like a survivor of one’s own death.”
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