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Monthly Archives: December 2018
Yield curves offer reality check to growth bulls
US 5 and 2-year and 5 and 3-year Treasury yield spreads moved negative yesterday for the first time since 2007, with the 10 and 2-year spread a minuscule .13 this morning. See Treasuries extend gains, after section of the yield-curve … Continue reading
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Credit and realty prices in contraction together, naturally
Economist Steve Keen writes yesterday in Australia’s Housing Bubble Pops, that the rate of change in mortgage credit (in red below) leads the level of house prices (blue), as shown here in America since 1990, with the 2006-09 collapse in … Continue reading
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Canadians under-saved and unprepared for slowing economy
Some 90% of Canada’s economic growth since the last recession has come from household consumption and spending in the realty sector (see chart below), enabled by unsustainable growth in debt at every level of the economy. In the process, Canadians … Continue reading
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