Kyung Il Yang Chief Editor, Gomdolee stephen@gomdolee.com April 1st, 2026 Introduction Since 2019, inflation has exposed a deep flaw in how economists and policymakers measure economic reality. As of April 2026, the overall CPI has increased roughly 26–28% cumulatively from December 2019. Yet food-at-home prices — the most tangible and frequent expense for households — … Continue reading Beyond CPI: Lived Inflation and Valuations (REVISED)

Kyung Il Yang Chief Editor, Gomdolee stephen@gomdolee.com March 30th, 2026 1. Introduction The functions of money have long been central to economic thought. Since Jevons (1875) and Menger (1892) formalized the tripartite classification — medium of exchange, unit of account, and store of value — the third function has been particularly associated with assets capable … Continue reading Store of Value Reconsidered: the Question of “What Value?”

Kyung Il Yang Chief Editor, Gomdolee stephen@gomdolee.com April 1st, 2026 Highlights 2025 recorded strong CLO issuance with $472 billion in BSL and $84.73 billion in private credit CLOs, alongside contained defaults that confirmed structural resilience compared with 2008 CDOs.   Regulatory tiering under Basel III allows G-SIBs to absorb assets and increase market share during … Continue reading Collateralized Loan Obligations and the Rise of Big Bank Credit Dominance (Revised)

Kyung Il Yang Chief Editor, Gomdolee stephen@gomdolee.com April 2nd, 2026 Introduction: 2025 as the Definitive Stress Test Official inflation statistics for 2025 and early 2026 conveyed an image of orderly disinflation. Headline CPI-U rose 2.7% from December 2024 to December 2025, with food prices up 3.1% and shelter exerting significant influence. By the 12 months … Continue reading The CPI is Dead Wrong: Evidence from the 2025 Polycrisis (Revised)

Kyung Il Yang Chief Editor, Gomdolee stephen@gomdolee.com March 31, 2026  1. Introduction The October 1987 Black Monday crash stands as one of the most dramatic events in financial history. On October 19, 1987, the S&P 500 fell approximately 20.4% in a single trading session, part of a broader peak-to-trough decline of roughly 33.5% from its … Continue reading The 1987 Crash as the Fractal DNA of Modern Stock Market Crashes (REVISED)

Kyung Il Yang Chief Editor, Gomdolee stephen@gomdolee.com March 2nd, 2026 (Weekly WTI priced in Yen as of March 4th) (Update Monthly WTI priced in Yen as of March 21st) (Update Weekly WTI priced in Yen as of March 27th) (JGB 10 Year Yield Daily as of March 28th) Summary The global economy enters 2026 amid … Continue reading Oil, Yen, and Fragility: The Carry Trade Domino in a High-Debt Era

Kyung Il Yang Chief Editor, Gomdolee stephen@gomdolee.com February 25, 2026 Introduction The financial turmoil of March 2020 stands as a defining episode in recent economic history, a moment when the world seemed to teeter on the edge of collapse as the COVID-19 pandemic swept across continents. On March 16, the S&P 500 plummeted 12% in … Continue reading The Repo Market and the March 2020 Meltdown: A Banking Crisis Misdiagnosed (REVISED) 

Kyung Il Yang Chief Editor, Gomdolee stephen@gomdolee.com January 7th, 2026 Introduction The proliferation of artificial intelligence technologies has positioned AI as a purportedly transformative economic force, with generative systems capturing widespread attention since the public release of ChatGPT in late 2022. By January 2026, the sector's aggregate market capitalization has surpassed several national GDPs, propelled … Continue reading Is It Time for Cool AI-ed? The AI Bubble and Bust Cycle: Path to Pragmatism