Saturday, May 07, 2011

DOUG NOLAND'S CREDIT BUBBLE REPORT

"It doesn’t – it wouldn’t – take much for huge positions to suddenly reside in “weak hands.” How much has flowed into any number of risk markets for the sole reason that these markets have been moving higher?   It's when highly speculative markets perceive – and presume – abundant liquidity that serious market liquidity issues tend to ferment." 

"The gilded age of speculative thinking" 

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