Charles Hugh Smith

Is This "The Top"?

Parabolic moves end when the confidence that the parabolic move can’t end becomes the consensus.The consensus seems to be that the stock market is on its way to much higher levels, and soon. The near-term targets for the S&P 500 (SPX, currentl…

The Hour Is Getting Late

After 11 years of “the Fed is the market” expansion, the Fed has now reduced its bloated balance sheet by 6.7%. This is normal, right?So here we are in Year 11 of the longest economic expansion/ stock market bubble in recent history, and by any measure…

OK Boomer, OK Fed

Eventually the younger generations will connect all the economic injustices implicit in ‘OK Boomer’ with the Fed.Much of the cluelessness and economic inequality behind the OK Boomer meme is the result of Federal Reserve policies that ha…