Prophecy in today's headlines

Black Friday? Stock Markets Brace For The Worse

There wasn’t much new in U.S. markets Thursday, and that was the problem. Credit markets remain mostly frozen, as wary banks still refuse to lend to one another despite the federal government’s attempts to break that logjam. The plan for the Treasury to buy up $700 billion in bad loans from banks now is roundly […]

U.S. House Price Decline Could Be Worse than Great Depression

Eight years ago, Yale superstar professor and MacroMarkets chief economist Robert Shiller famously called the top of the stock market in his book Irrational Exuberance. Then, a year before the housing bubble peaked, he predicted the colossal bust we are now experiencing. If you recognize Shiller’s name, it’s because the Standard & Poor’s/Case-Shiller home price […]