discretionary spending

A blatant sign of discretionary spending at the top of the credit bubble were the Dubai governement's highly speculative 'island' developments.

Where Vision Inspires Humanity


Eight months after the presumed risk asset lows, the Dubai GSE is failing to meet a $59 billion debt obligation.

Could Dubai Be the Spark for a Correction? (Humble Student of the Markets)

Global consumer credit continues to contract. Helicopter Bernanke's work is not done.

negative t bill yields, again

While risk assets are hovering at 2009 highs, short dated treasuries are once again trading with negative yields,

Short Term T Bills Go Negative (Jesse's Cafe Americain)
More on Negative T Bills (Across the Curve)

The bond market continues to steepen on the Fed's endless stimulus,



... and gold rallies as a consequence,