Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish LiquidityTrader.com, and was lead analyst for Sure Money Investor. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both analytical and sales capacities. Prior to starting the Wall Street Examiner I worked as a commercial real estate appraiser in Florida for 15 years. I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. My perspective is not of the Ivory Tower. It is from having my boots on the ground and in the trenches of the industries that I analyze and write about today.

Federal Reserve Profits Cut 60% As Fed Uses Your Money to Subsidize Big Banks

Federal Reserve profits have plunged by 60% as the Fed increased the interest it pays to banks on excess reserves (IOER). That profit, technically a surplus, is paid to the US Treasury every month. That payment effectively reduces the Federal government’s budget deficit that must be covered by taxpayers. Follow the money. Find the profits!Liquidity…

These Charts Show How Primary Dealers Create Huge Risk as They Get Longer and Longer the Bond Market

The Primary Dealers continue to carry historically massive net long fixed income positions, purchased with debt, resulting in huge increases in leverage. They are hedging in the futures markets, and have reduced their Treasury longs a bit over the past month. But their overall net long exposure continues to grow. Here’s what history tells us…