Game over. Occam’s Razor: The simplest explanation is often the best one. Central banks will never extract themselves. Whether they ultimately end QE is besides the point. They won’t reduce their balance […]
Game Over
The Secret
The secret is out. It can no longer be denied and it’s up to each and everyone of us to help bring the secret to the forefront of public awareness. For the […]
Fragile: Handle with Care
What a circus. I imagine there’s a big sign in every Fed building in America: Don’t drop, fragile, handle with care. Janet Yellen, while no longer in a Fed building, committed the […]
Peak Liquidity
The amount of liquidity pumped into the markets and the economy in the last year dwarfs anything we’ve seen in history. Markets certainly have reacted to it with exuberance and the bounce […]
Belief
Yesterday’s news of Bernie Madoff passing away in prison at 82 serves as a reminder of false belief systems. You know what got him caught? Not forensic accounting, not regulators, not investors, […]
Hedge Myth?
Buyers of Bitcoin have seen fantastic results in the past year since the lows of March 2020. That is until the middle of this month as price has dropped a bit. Whether […]
Instability
In every century the same thing happens at one point or another. Society loses the plot and gets caught up in a mania, a grandiose exercise in self delusion. It can be […]
Clear and Present Danger
The Federal Reserve and other central banks represent a clear and present danger to future financial stability. I’ve been saying for a while central banks are fueling an asset bubble and as […]
Exposed
While this weekend’s headlines are dominated by who got exposed to and infected by Coronavirus from the President on down I want to make sure other key news items are not lost […]
Triple Trouble
Markets have run into trouble in September and 3 major problems have emerged and unless these problems are solved markets may have to contend with the distinct possibility of having topped for […]
Unspoken Truth
We all know it yet the unspoken truth deserves to be said out aloud. You all heard the phrases ‘Don’t fight the Fed’, and ‘ there is no alternative’. Can we be […]
Macro Scoop
Happy Saturday everyone, no Straight Talk this weekend as Dan, Guy and I are taking some time off, imagine that. My wife and I are of course glad our kid is back […]
