moral hazard

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Investors Beware: Market Risks Today Are Higher than Ever

It's time to start worrying about the bond market
Thursday, March 21, 2013, 4:42 PM

After the shot across the bow in 2008, you might have expected regulators and market participants would use the experience to change for the better, to become more prudent, and to reduce the sorts of risky behaviors that almost crashed the entire system.

Unfortunately, you'd be wrong. » Read more

Blog

Anticipating the Devolution of Big Government

Expect destructive feedback loops
Monday, October 29, 2012, 7:44 PM

With the US elections approaching next week, as well as the threat of another fiscal cliff showdown looming, we asked contributing editor Charles Hugh Smith to revisit his eariler work on how the expansive Central State has come to dominate both private society (i.e., the community) and the marketplace, to the detriment of the nation’s social and economic stability. » Read more