Mortgage Finance Bubble

341 commentaries

• 2008 (47)
• Dec 19 Q3 2008 Flow of Funds
• Nov 28 Just the Facts
• Nov 21 Just the Facts...
• Nov 14 The Only Cure for a Bubble...
• Nov 7 Debt Trap
• Oct 31 Trick or Treat or Just the Facts
• Oct 24 History's Biggest Margin Call
• Oct 17 The 'Arb' Game is Over
• Oct 10 Hoping There's Hope
• Oct 3 The Wall Street Bust
• Sep 26 Changed Financial Landscape
• Sep 19 Misdirected Credit Runs Unabated
• Sep 7 Too Big to Suffer a Loss
• Sep 6 Just the Facts
• Aug 29 Ponzi Finance Dynamics Still at Play
• Aug 22 Just the Facts
• Aug 15 Dysfunctional Pricing Backdrop
• Aug 8 Burst Bubble Energy or Speculator
• Aug 1 The Uppers
• Jul 22 A GSE Perspective
• Jul 18 Benchmark MBS and the SEC
• Jul 11 Sorry, But Just the Facts
• Jul 4 Starbucks, the 'Core,' and Conventional Mortgages
• Jun 27 Just the Facts
• Jun 20 Good Inflation
• Jun 13 Stage II Predicaments
• Jun 6 Q1 2008 Flow of Funds
• May 30 Just the Facts
• May 16 A Red Herring
• May 9 A New Inflationary Epoch
• May 2 Revisiting Financial Arbitrage Capitalism
• Apr 25 The Meaning of Stage II
• Apr 18 Setting the Backdrop for Stage II
• Apr 4 Economic Structure and the 'Liquidationist Thesis'
• Mar 28 End of an Era
• Mar 21 Nationalization
• Mar 14 Wishing for another Z.1
• Mar 7 Q4 2007 Flow of Funds
• Feb 29 No LTCM
• Feb 22 Confirmations
• Feb 15 The Breakdown of Wall Street Alchemy
• Feb 8 At the Heart of Deepening Monetary Disorder
• Feb 1 Reflation Contemplation
• Jan 25 More than 20 years in the making
• Jan 18 Daisy-Chain
• Jan 11 Mortgage Crisis to Corporate Debt Crisis
• Jan 4 Issues 2008
• 2007 (49)
• Dec 28 2007 Wrap Up
• Dec 21 Wall Street-Backed Finance
• Dec 14 Financial Sector Credit
• Dec 7 Q3 2007 'Flow of Funds'
• Nov 29 Tight 'Money'
• Nov 22 No Regrets
• Nov 14 Credit Crunch
• Nov 9 Fannie in Her Own Words
• Oct 31 Road to Ruin
• Oct 24 Structured Finance Under Duress
• Oct 17 Respite's Over
• Oct 12 Not So Benign Neglect
• Oct 5 Financial Structures
• Sep 28 Clash of the Paradigms
• Sep 21 Q2 2007 'Flow of Funds'
• Sep 14 Didn't Really Get It
• Sep 7 Just the Facts...Again
• Aug 31 Just the Facts
• Aug 24 Money Market Issues
• Aug 16 Fed to the Rescue
• Aug 9 A Run on Wall Street Finance
• Aug 2 Credit Market Dislocation
• Jul 19 The Hand of Finance
• Jul 12 Worse Than Irrelevant
• Jul 5 Monopoly
• Jun 28 First-Half Global Liquidity Watch
• Jun 21 Uncertainty reigns supreme
• Jun 14 For the Twenty-First Century
• Jun 7 Q1 2007 Flow of Funds
• May 31 The Other Side to the Story
• May 24 A Scary Proposition
• May 21 Special Bulletin
• May 10 Checks and Balances
• May 3 Then and Now
• Apr 26 Unique
• Apr 19 Financial Earnings
• Apr 12 More Minsky
• Apr 5 'Vintage 2007'
• Mar 29 Q1 Global Liquidity Watch
• Mar 22 The Smooth Flow of Credit
• Mar 15 Subprime Contagion Effects
• Mar 9 Q4 2006 Flow of Funds
• Mar 2 The Confluence
• Feb 23 Indictments
• Feb 16 Subprime in Context
• Feb 9 Subprime in Focus
• Feb 2 Income Growth and Credit Bubble Dynamics
• Jan 26 Expanding on El-Erian
• Jan 12 Nominal GDP
• 2006 (53)
• Dec 29 2006 Wrap-Up *
• Dec 27 Embrace the Deficit
• Dec 15 Financial Sphere Profits
• Dec 8 Q3 2006 Flow of Funds
• Dec 1 The Big Wildcard
• Nov 24 Just the Facts
• Nov 17 Derivatives 'Insurance'
• Nov 10 Monetary Developments vs. Monetary Aggregates
• Nov 3 Prevailing Inflationary Biases
• Oct 26 Current Account 'Recycling' Distortions
• Oct 19 Financial Sphere Earnings Watch
• Oct 12 Financial Conditions
• Oct 5 Inflationary Biases and Chasms at the Fed
• Sep 28 Volcker, Corrigan, McDonough and Geithner
• Sep 21 Q2 2006 Flow of Funds
• Sep 14 Monetary Disorder Watch
• Sep 7 Income Inflation
• Aug 31 Just the facts
• Aug 24 Minsky and Debt Structures
• Aug 17 Financial Structure
• Aug 10 Something different
• Aug 3 The Pause
• Jul 27 To wear or not to wear
• Jul 13 An Interview with an Esteemed Elder Statesman
• Jul 6 An Attempt at Concise
• Jun 29 Reality Check
• Jun 22 Hays Interviews the Master
• Jun 15 Mr. Douglas R. Gillespie, Sr.
• Jun 8 Q1 2006 Flow of Funds
• Jun 1 What Difference Does a Year Make
• May 25 Inflection point or Respite
• May 18 The Evolving Nature...
• May 11 Reasons
• May 4 Money Analysis
• Apr 27 Time to pause
• Apr 20 So, You Think You've About Wrapped Things Up
• Apr 13 The 'Holy Grail'
• Apr 6 Banking and the Business Cycle
• Mar 31 A Notable Quarter of Global Asset Inflation
• Mar 24 The Flow of Finance
• Mar 17 A Response to Donald Kohn on Asset Bubbles
• Mar 11 Q4 2004 'Flow of Funds'
• Mar 10 Q4 2005 Flow of Funds
• Mar 4 A Liquidity-creating Juggernaut
• Mar 3 Global Asset Inflation and Lessons to be Learned
• Feb 24 Just the Facts
• Feb 17 Bernanke and Yield Curve Analysis
• Feb 10 Blow-off Analysis
• Feb 3 The Essence of the Greenspan Era
• Jan 27 Global Imbalances Watch
• Jan 20 Welcome to 2006
• Jan 13 Anecdotes of Excess Begetting Excess
• Jan 6 Issues 2006
• 2005 (49)
• Dec 30 2005 Wrap-Up
• Dec 23 Cantillion, Raguet, Hawtrey, & Persons
• Dec 16 Most Unfavorable of Legacies
• Dec 9 Q3 2005 'Flow of Funds'
• Dec 2 Bill and Paul's Wild Analytical Adventure
• Nov 25 A Quickie on 'Money'
• Nov 18 Content with the Status Quo
• Nov 11 (Pollyanna) Poole on the Current Account
• Nov 4 The Global Financial Sphere
• Oct 27 A Bubble Perpetuator
• Oct 20 A Rather Volatile Mix
• Oct 13 More Trials and Tribulations of Wall Street Finance
• Oct 6 Sphere Analysis
• Sep 29 The Global Liquidity Glut
• Sep 22 Q2 2005 'Flow of Funds'
• Sep 15 Borrowing Short and Lending Short
• Sep 8 The Greenspan Levee
• Aug 25 The Greenspan Era. Lessons to be Learned
• Aug 18 Updating the Mortgage Finance Bubble
• Aug 11 The Global Inflationary Boom Thesis
• Aug 4 The Downside to Transparent Baby Steps
• Jul 28 Just the Facts II
• Jul 21 Just the Facts
• Jul 14 Asset-backed Securities
• Jul 7 The Flow of Finance
• Jun 30 Macro Confusion
• Jun 23 Thinking Minsky
• Jun 16 To Liquidate or Inflate
• Jun 9 Q1 2005 'Flow of Funds'
• Jun 2 This Time it is Different
• May 26 The 'Neutral Rate'
• May 19 Conundrums
• May 12 Topic de Jour
• May 5 Hooked on 'The Hand'
• Apr 28 Digging a Little Deeper into 'Financial Sphere' Analysis
• Apr 21 Major Uncertainties
• Apr 14 The Greatest Ever Speculative Bubble in Risk
• Apr 7 The Fed's Dilemma
• Apr 1 That Kind-Hearted Kate Welling
• Mar 25 Speculator and Liquidity Unfriendly
• Mar 21 Booming Broker Finance and Market Tops
• Feb 25 Dr. Bernanke on the Current Account
• Feb 18 It Has Everything to do with 'Finance,' Mr. Chairman
• Feb 11 More from Mr. Otmar Issing
• Feb 4 The Disparate Approaches of Messrs. Trichet and Greenspan
• Jan 28 The Great Dilemma
• Jan 21 Inflationist Watch
• Jan 14 Fed Again Falls Flat with Bubble Analysis
• Jan 7 Issues 2005
• 2004 (48)
• Dec 31 Year in Review. Reflation to Gross Over-Liquefication
• Dec 23 Merry Christmas, Happy Holidays *
• Dec 17 Dilly-Dally Monetary Management
• Dec 10 Q3 2004 Z.1 'Flow of Funds'
• Nov 26 An Open Letter to the U.S. Dollar
• Nov 19 Greenspan Watch
• Nov 12 Monetary Disorder
• Nov 5 Second Term Realities
• Oct 28 Easy Liquidity
• Oct 21 The Dollar, Financial 'Profits' and Reflation
• Oct 14 Happy. Two-year Anniversary
• Oct 6 Sphere Analysis
• Sep 23 The Trial and Tribulations of Risk Intermediation Folly
• Sep 16 Q2 2004 'Flow of Funds'
• Sep 8 Bubble Bubble Mortgage Trouble
• Sep 2 Credit Bubble Bulletin
• Aug 26 Bubble at the Fringe
• Aug 19 Speculative Finance and Liquidity Bulges
• Aug 12 The Fragile Stability of Monetary Disorder
• Aug 5 Revisiting Financial Arbitrage Capitalism
• Jul 29 Trouble at the Core
• Jul 22 The Great Mortgage Spread Trade
• Jul 15 The Financial Sector Earnings Illusion
• Jul 8 Outside the Box
• Jul 1 Ebbs & Flows and Dollar Woes
• Jun 24 The Mortgage Finance Bubble
• Jun 17 Monetary Instability and Lessons Not Learned
• Jun 10 Lying in Wait
• May 20 Inflation Accommodation
• May 13 Money and The Flip Side of Speculator De-leveraging
• May 6 Faltering Financial Sphere
• Apr 29 Federal Reserve Miracle
• Apr 22 Fannie and Freddie to the Rescue
• Apr 15 Tightening Lite
• Apr 8 Ideologues and Quagmires
• Apr 2 The Quest for Monetary Order
• Mar 19 Pondering the Two Great Market Stabilizers
• Mar 12 The Current Account Deficit and the Bane of Inflationism
• Mar 5 A Banner Year for Asset Inflation
• Feb 27 The Curious Greenspan and the GSEs
• Feb 20 Issing v. Greenspan
• Feb 13 Simply Not Credible
• Feb 6 The Pay Option Arm
• Jan 30 Ruse. 'A crafty stratagem, a subterfuge'
• Jan 23 Financial Bubbles Rage On
• Jan 16 Q3 2003 'Flow of Funds'
• Jan 9 Issues 2004
• Jan 2 The Great Reflation of 2003
• 2003 (48)
• Dec 19 No Inflating Out of this Quagmire
• Dec 12 OFHEO on Fraud at Freddie
• Dec 5 Inflationary Manifestations Hit the Farm Belt
• Dec 3 Pertinent Monetary Economics from Ralph G. Hawtrey
• Nov 28 Compounding the Problem
• Nov 21 It's Here
• Nov 14 Liquidity, Money and Credit
• Nov 7 The Evolution to an All-Encompassing Credit Bubble
• Oct 31 Straight Talk from Consumate Central Banker Dr. Otmar Issing
• Oct 23 A True Paradigm Shift
• Oct 16 BofA Rings Fannie
• Oct 9 The Honorable Life of Mr. Wally Ciochetti
• Oct 2 Tipping Point
• Sep 25 The Powerful Force
• Sep 18 'Let it Rip'
• Sep 11 One for the Time Capsule
• Aug 28 Two Runaway Bubbles and Global Reflation
• Aug 21 Way Behind the Curve
• Aug 14 The Interregnum Market
• Aug 7 The Post-Boom Boom
• Jul 31 Lost Control
• Jul 24 Struggling Team Greenspan-Bernanke
• Jul 10 North Atlantic Tides
• Jul 3 It's Going to be a Fascinating Second Half
• Jun 26 Coming Next Year to Madison Square Garden...
• Jun 19 Following in Dr. Fisher's Footsteps
• Jun 12 Contemplating the Evolution From the Way We Were to the Way It Is
• Jun 5 Crazy Horse
• May 29 The New New Game
• May 22 You Just Gotta Love Congressman Ron Paul
• May 15 The Desperate Experiment of Maximum Global Liquidity
• May 8 The Stark Contrasts between Competing Central Banks
• Apr 24 Reliquefication
• Apr 17 Firing on Most Cylinders
• Apr 10 The Reasons
• Apr 4 Reflation Watch or The Necessity of Diligent Observation
• Mar 28 Off Topic
• Mar 14 Climbing the Wall of Water
• Mar 7 Cheesecake Dependency
• Feb 28 Key Inflationary Manifestations
• Feb 21 Fiat Money and Credit Inflation in America
• Feb 14 Blow off Week #34
• Feb 7 Scenario #3
• Jan 31 Pondering Post-Bubble America
• Jan 24 An Integrity Problem
• Jan 17 If Only...
• Jan 10 The Transformation of Benjamin Strong
• Jan 3 Issues 2003
• 2002 (47)
• Dec 20 Pondering the Next Shoe to Drop
• Dec 13 Nehemiah and the Copycats or 'Non Profit' but Big Business
• Dec 6 The Anatomy of a Maladjusted Economy
• Nov 29 The Delta Hedged Economy
• Nov 22 Death to the 'Bubble Poppers'
• Nov 15 Weak Links
• Nov 8 125 Basis Points Left to Sustain the Unsustainable
• Nov 1 National Century Financial Services
• Oct 24 Throw in a REIT Bubble
• Oct 17 Hawking 'Financial Peace of Mind' and Other Gross Financial Excess
• Oct 10 Juan & Maria Guzman *
• Oct 3 Coming Apart at the Seams
• Sep 26 The Trials and Tribulations of Speculative Finance
• Sep 19 Soul Searching
• Sep 12 Liquidity Excess vs. Faltering 'Risk' Market
• Aug 29 Cold as Ice
• Aug 22 Accentuated Credit Cycles
• Aug 1 The housing bubble loses some air
• Jul 25 Structured Finance in the Crosshairs
• Jul 18 That's my story, and I'm sticking to it!
• Jul 11 Palpable Systemic Stress
• Jul 4 Ominous portents from the NextBank meltdown
• Jun 27 This Week EBITDA. When 'Marked-to-Model'
• Jun 20 The Ominous Return of the Twin Deficits
• Jun 13 A Few More Years
• Jun 6 Point, Counter Point
• May 30 Dying a Death of a Thousand Cuts
• May 23 Financial Debacle for Dummies
• May 16 Food for Thought
• May 9 Unstable markets
• May 2 The Bundling of Risk and Dollar Vulnerability
• Apr 25 Untenable Monetary Regimes
• Apr 18 Monetary Policy and the Character of Lending
• Apr 11 Lies, Damn Lies, and 'Analysis'
• Apr 5 Pondering Imponderables
• Mar 29 Terminal Stage of Mortgage Finance Excess
• Mar 22 The Diamond Anniversary of Monetary Disorder
• Mar 15 Random Thoughts
• Mar 8 Market Dislocations
• Feb 22 The Clan of Seven
• Feb 15 Money, Monetary Policy and the Structure of Debt
• Feb 8 The Fun is Gone From the Game of Risk
• Feb 1 Partnoy on Plastic Surgery and Lemonade Stands
• Jan 25 Experiment on Top of Experiment
• Jan 18 The Consumer Bubble
• Jan 11 Harry E. Miller
• Jan 4 Issues 2002