Commodities have been on a tear for years as investors bet on permanent growth of developing economies and dwindling supplies. A global recession could change the picture, at least temporarily.
The past several years have seen a growing backlash…
Of the many asset classes to be victimized by the end of cheap energy, residential real estate is perhaps the most vulnerable. A call option on future wage growth, and, leveraged to our liquid-fuel based transport system, housing in North America is…
The Fed can only choose the least-worst option now: either destroy the real economy by sinking the dollar below support and unleashing the Inflation Monster, or abandon the “risk trade” stock market rally.
The Fed’s game plan–sink the U.S. doll…
