Latest Posts
Cullen Roche - 04/23/2019
Someone emailed me with a very good question yesterday: “Did we really go through a once-in-a-lifetime Great Recession in 2008, or is the global economy overleveraged to an even greater [ … ]
Cullen Roche - 04/17/2019
The main goal of this website over the years has been to search for an operationally sound and empirically supported perspective of how the monetary system works. I’ve debunked tons [ … ]
Cullen Roche - 04/14/2019
Everyone deserves second chances in life. And everyone is a work in progress. Those are the big lessons for me after watching Tiger Woods win The Masters today. It took [ … ]
Cullen Roche - 04/11/2019
Hyman Minsky’s Financial Instability Hypothesis (FIH) has been an influential component of how I think of the financial markets and the economy. The FIH, in a nutshell, says that capitalist [ … ]
Cullen Roche - 04/04/2019
Due to high demand I am going to bring back the Pragmatic Capitalism discussion forum. Many of you know I’ve had problems with forums and comments sections in the past [ … ]
Cullen Roche - 04/01/2019
I joined the great Joe Weisenthal and Tracy Alloway on Bloomberg’s Odd Lots Podcast to discuss MMT. We covered my journey learning MMT during the financial crisis, the good in [ … ]
Cullen Roche - 03/28/2019
Here are some things I think I am thinking about: 1) Ahhhh, the yield curve inverted again! There have been lots of scary articles about how the yield curve is [ … ]
Cullen Roche - 03/23/2019
To The Senators of the United States of America: This letter will be a swift and thorough explanation for why voting NO on Stephen Moore should be one of the [ … ]
Cullen Roche - 03/21/2019
NB – About 10 years ago I wrote an MMT primer after first being introduced to the theory. I initially thought the theory was coherent and operationally sound, but it [ … ]
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Cullen Roche - 03/26/2018
I was reading this article in the NY Times about a wide ranging diet study. They performed a meticulously controlled test to study what type of diet works best. Their [ … ]
Cullen Roche - 08/20/2017
The WSJ was out with a piece discussing outflows from DoubleLine’s Total Return Bond fund this week. One of the reasons for the outflows was cited as the lack of [ … ]
Cullen Roche - 09/16/2016
Bonds have always struck me as fairly simple instruments. In general, you know what a (high quality) bond’s return will be and you know what its time horizon is. That [ … ]
Cullen Roche - 03/24/2016
If I had to pinpoint the biggest problem for most asset allocators I would probably say short-termism. Short-termism is the tendency to judge financial markets in periods that are so short [ … ]
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