#Mortgage Loans

Authored by Pater Tenebrarum via Acting-Man.com, Another Shoeshine Boy Moment We recently pondered the markets while trying out our brand-new electric soup-cooling spoon (see below). We are pondering the markets quite often lately, because we believe tail risk has grown by leaps and bounds and we

At the end of November, we showed a troubling observation for China - and global - macro watchers from Axiom's Gordon Johnson: for the first time ever, record Chinese credit creation had failed to stimulate the economy, and in fact the exact opposite appeared to be unfolding – economic growth is

One lesson from the 2007-08 crisis was that the vast majority of financial market participants, never mind the general public, were unfamiliar with subprime mortgages until the crisis was underway. Even now, we doubt many have much understanding of repo, the divergence between LIBOR and Fed Funds

Back in April/May, Canada's biggest mortgage lender, Home Capital Group, crashed its way into the headlines, coming clean over its balance sheet-full of liar loans, suffered a bank run, and was forced  to take emergency liquidty from taxpaying pensioners, and was eventually bailed out by good old

Have you heard the one about the priest, the rabbi and China's deleveraging? We forget how it goes, but it's pretty damn funny, especially the last part after a Reuters report that following China's repeated vows by Beijing it would reduce the country's unprecedented sovereign, municipal, corporate