Economic Commentary

“Someday financial markets will decline...rising stock/bond markets will no longer be government policy. QE will end and money won’t be free. Corporate failure will be permitted. The economy will turn. Someday, somewhere, somehow, investors will lose money and once again come to favor capital preservation over speculation. Someday, interest rates will be higher, bond prices lower, and the prospective return from owning fixed-income instruments will again be commensurate with risk.” Seth Klarman

Tuesday, June 16, 2015

"...nothing has changed [from] the pre-crash status quo…only…relative/absolute debt has never been higher."

"...Or, as Italy's economy minister called it, "boring"... until such time as the Troika decided to yank its guarantees and the next Greece emerges. Only then does it get "exciting."

Source: http://www.zerohedge.com/news/2015-06-16/there-one-problem-europes-so-called-austerity

Economic Commentary

Tuesday, June 16, 2015

"...nothing has changed [from] the pre-crash status quo…only…relative/absolute debt has never been higher."

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