As Janet Yellen is passing the bubble, excuse me, the buck, wrong again, the baton to Jerome Powell this week there is some chatter as to whether Jerome Powell will use the […]
In the fullness of time the recent US tax cuts will prove to have been a major policy mistake and I’ll give you several reasons why. Oh I know, amidst the stock […]
Watch out, stocks are not the only thing flying. Recently I outlined my concerns about the cost of carry as rates are rising and I’ve outlined my analysis in The Debt Beneath. […]
How stupid do central bankers think we are? By account of their communications and actions the answer is: Very. Just in the past 24 hours we got a heap of communications that […]
Is anyone paying attention? I don’t know, but the cost of carrying debt has been rising and it’s already showing measurable impacts despite the Fed Funds rate still being very low. My […]
Government shutdowns make for stirring headlines, but usually only for a few days. The history is pretty clear: The government doesn’t remain shut for long and usually one side or both sides […]
Once upon a time, a long long time ago in markets far away, stocks actually went down on occasion. Soon, next week actually, we’ll see headlines that we’ve entered the longest period […]
Let’s have some fun with predictions shall we? I even brought my crystal ball and magic sparkly chest hair ready to muse about the known unknowns and unknown unknowns. What are those? […]
You might think history teaches; it repeats; page after page, a poem in perfect rhyme tolls echoing bells from both sides of the sheets for births and funerals, tells the time of […]
Debt is irrelevant and matters not. It’s different this time. That’s the message from politicians, markets and participants. Tax cuts pay for themselves (they do not), leverage doesn’t matter (it does) and […]
So they got their tax cut done. In the middle of the night again no less, despite the vast majority of the American people not wanting it. The reason may simply be […]
Every once in a while you get a nugget of truth in our noise filled world. And when you do you have to cherish it. Like a prized possession. In the real […]
