Over the past two weeks, we’ve begun to document (see here and here) what may end up being a dramatic unwind in the CLO market.
Supply all but vanished in the wake of the crisis but staged a comeback starting in 2012 and by 2014, issuance was running at a $125 billion per year clip. As we noted last week, that’s roughly the equivalent of how much auto loan-backed paper came to market last year.
Only In America: An Indiscreet Selfie Can Put A Kid In Prison
Paul Craig Roberts
Did you know that if you are an American under 18 years old and you use your cell phone to send a nude “selfie” of yourself to a friend, you can be convicted of manufacturing and distributing “child pornography” and sent to prison? In case you are too old to be in the loop, a “selfie” is a photo that one makes of oneself.
The ebb and flow of campaigns is something political insiders and professionals try to master, but it is usually mysterious. Timing is everything. It is clear that Ted Cruz and especially Marco Rubio have generated some momentum by attacking Donald Trump more personally and viscerally, but far from clear that it will change the course of the contest. What if Rubio had started two weeks earlier with personal attacks: Trump as “con man'; Trump should sue “whoever did that to his face”; Trump as an elderly man who had to check during the debate that “his pants weren’t wet”?
Authored by Eric Zuesse,
Foreign policy is both economic and military. An interpretation of U.S. President Barack Obama’s foreign policy will be presented here that explains both his economic and his military decisions to-date, and that shows he’s been carrying out the policies of his predecessors in office.
Earlier today, we noted that America’s presumed candidate for the GOP nomination is busy retweeting Mussolini quotes.
That’s not necessarily a reflection of an explicit desire to move America towards fascism.
It’s not entirely clear that Donald Trump understands the movement he’s started. But America's entrenched political establishment is now scrambling to understand how to deal with the Trump juggernaut and it's not just politicians who are concerned.