Rarely has failure been celebrated so much. But it is of little wonder after all, as all asset classes rose in 2019 in spite of slowing growth and flat to declining earnings. […]

What? You thought a 850+ point drop in the $DJIA would result in a down week? No Sir. The unholy alliance has struck again. Massive jawboning by multiple administration officials about how well […]

I’m horrified. I’m sad. I’m upset. I’m grieving. I’m concerned. I’m full of questions. I’m angry. I’m all these things and more on the heels of the death of a 14 year […]

Some things can’t be proven, but they can be observed. Correlation is not necessarily causation, but when the evidence keeps mounting so does credulity. And the cumulative evidence increasingly points to an […]

I’m of the long standing view that Fed chairs have one prime responsibility above all others: Keeping confidence up, and if it requires to sweet talk problems then that’s what it takes. The […]

The Fed has gone into full intervention mode. Not only into full intervention mode, but accelerated intervention mode. Not just a little “mid cycle adjustment” but full bore daily interventions to the […]

They sure are trying their best. To do what? To goose markets higher. It’s been quite the spectacle all year, but this Friday sure took the cake. The entire week had been […]

We’re in the middle of an existential crisis. We must be. That’s what central bank policies are telling us. After all the ECB cut rates to the lowest ever with its balance […]

Risk happens fast, especially when markets run on hopium with extended valuations. Whether today’s news headlines suggestive that Democrats may be opening an impeachment inquiry into President Trump will be a trigger […]

It’s finally official. QE Infinity is here, so announced today by Mario Draghi at his final press conference as the head of the ECB. Not only QE, but also joining Turkey and […]

The Fed has a math problem and so do markets. Everyone from the president on down is demanding rate cuts, lots of them. “Mid-cycle” adjustment Fed Chair Jay Powell called the July […]

Yesterday’s announcement by the Trump administration to delay some of the new tariffs on China it just announced a few weeks ago was initially greeted with relief by equity markets across the […]