MMT’s claim that governments can print money is true, but there’s substantial negative consequences which are neither immediate nor blatantly evident to the untrained observer
Money
Could Austria’s Century Bond End Up Like Argentina’s?
It doesn’t take a default for Austria’s recently issued century bond to trade at the same price as Argentina’s defaulted debt.
When the Truth is this Crazy, Who Needs Conspiracy Theories?
The insolvency of Wirecard has made many look foolish, but short sellers and a journalist had been on the case for years
Investors are Chasing “Bargains” in Turnarounds and Cyclicals
In the search for an apparent bargain, turnaround stories and cyclical companies are attracting far more capital and attention than they otherwise would.
Two Cheers for APRA on TLAC
APRA deserves credit for rejecting the false claims of the major banks and ordering a substantial increase in their tier 2 capital
What is “Cash” and Why it Matters
There’s a great deal of confusion over cash, enhanced cash & investment grade funds. Let’s clarify the purpose & underlying securities of each type of fund.
The Coming High Yield Downturn will be Big, Long and Ugly
The US high yield market has grown larger and riskier since the financial crisis. More debt, of lower quality, with weaker covenants means the coming downturn will be bigger, longer and uglier.
Cryptocurrencies and Blockchain are Just Reruns of 90’s Bubbles
The old saying that history doesn’t repeat but often rhymes sums up the fervour surrounding cryptocurrencies and blockchain.
Harvard Shows the Pitfalls of Internalising Funds Management
With so many fund managers overcharging and underperforming it’s no surprise that there’s a trend towards internalising funds management. However, Harvard’s experience shows that internalising is far easier said than done.