A Macroprudential Paradox

Every time a Bubble arises, supporters of the “new paradigm” argue that somehow “This time it’s different.    The data says it hasn’t been different yet.

One of these days that may be true.  However, we have come up with a method by which similarities may become clear between non-equivalent markets with wide temporal separation.

Which may sound like gibberish until events this fall roll out that are seemingly now cast in stone.

After a few headlines and a second cup of tea, natch!

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