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Archives for September 2017

Catalonia, And All Of Spain, On Edge As Independence Referendum Vote Nears

BARCELONA — Catalonia’s independence referendum is no longer about whether Catalans want statehood but whether they will be able to vote on Sunday at all. Far from the orderly vote that separatists wanted to stage, the referendum has instead turned into a covert operation to avoid a Madrid-ordered shutdown. The government of the conservative Prime Minister Mariano

The Market Ticker – The Wile-E-Coyote Market

Debt doesn’t matter — right up until it does.So goes the chestnut.In actual practice, however, it’s much worse: Increasing debt tends to make equity valuations go up right until it matters, then it makes them crash.There is exactly zero attention being paid to this.  But the truth of it is found in every recent, and in fact all the nasty historical drawdowns in the market.  Let’s just go through a few of the really bad ones, specifically:187319292000 and2008All of them shared the same…

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