hmorgan

Bowling Ball Bounce for Markets

Never too pedantic, thanks for the fine tuning!

Herb


On Mar 20 01:01 PM THofler wrote:

> Mr. Morgan,
> Loved the article. But allowed me to be pedantic about one point.
>
>
> Any good physical scientist will tell you that "negative feedback"
> leads to stability, whereas "positive feedback" causes instability
> and oscillations. The serious economists use the terms "procyclical"
> and "countercyclical." The dumb procyclical effects we have built
> into our financial system will generate both the booms and the busts.
>
>
> The term you meant to use in the above piece is "procyclical feedback"
> or maybe "adverse feedback." Thanks again for providing some wheat
> to SA and not more chaff.

Bowling Ball Bounce for Markets

Thanks, I don't know what happened to the format but the article was submitted with tables. I'll check with SA editorial to see if there is a better way to keep the formatting next time.

Herb


On Mar 20 06:17 PM betweenthenumbers wrote:

> I greatly appreciate the tone of this article, that of a humble commentator
> trying to present facts, regardless of the actual content. I'm not
> so keen myself on the Fed's actions - they are literally the most
> powerful organization in the world now, completely on tilt, trying
> to make drastic interventionism the solution to all problems, and
> growing their balance sheet to the size of France's GDP ($2.5T) in
> 6 weeks...but I digress. I can respect his points, and like the way
> they are presented (maybe some tables instead of data points in a
> list).
>
> I really liked the statement "...getting tired of the financial news
> media selecting guests based on their ability to spew extreme and
> absolute clairvoyance about the direction of markets." That shrill
> screaming does nothing but prevent the measured discussion that is
> necessary given the current circumstances. I would even end my months
> long MSNBC boycott to watch a show if they would bring Mr. Morgan
> on.

Shadow Banking System: Death from Nowhere

This is a well reasoned article. What is your opinion on the viability of TALF and its likely impact on restarting the issuance of ABS?

Five Opportunities To Consider Amidst This Selloff

In structured finance, the word tranche (sometimes traunche) refers to......