The Institutional Risk Analyst

Chair Yellen Spills the Punch Bowl

We think 2017 will be remembered as the Year of the Bubbles. Everywhere you look, whether its stocks or real estate or even overt acts of fraud like bitcoin, the value of fiat paper dollars measured in prices for other “assets” is falling. Crypto currencies, to be clear, are more a class of felony than investable assets, but the crypto games provide supply for demand in an age of scarcity engineered by the central banks.