Poor asset returns, expensive funding, geographic diversity in all of the wrong places, limited liquidity and the world’s biggest derivatives book somehow just doesn’t do it for us.
The anti-social carnage unleashed by Corporate America’s “lock-in” / negative network effects has no real limits.Here’s the U.S.economy in a nutshell: Corporate America is an anti-social Black Plague, gorging on cartel-monopoly profits reaped from…
Today’s POMO trade was a small one.
It’s not too difficult to predict a political rebellion against the machinery of soaring wealth and income inequality.The one constant across the media-political spectrum is an unblinking focus on the stock market as a barometer of the national economy…
As long as central banks create and distribute trillions in conscience-free credit to conscience-free financiers and corporations, the incentives for sociopathy only increase.”Sociopath” is a word we now encounter regularly in the mainstream media, but…
Reports of the demise of the Megaphone may be greatly exaggerated.
Stocks are fired up at the prospect of a year-end melt-up. The surprise would be a global bond market beat down.
Just as forestry management’s policy of suppressing forest fires insured uncontrollable conflagrations, so central banks’ attempts to eliminate recessions insure a financial conflagration that will burn down the entire global financial system.The first…
New highs every day or so now. Investors are chasing the new highs, the president celebrates on twitter almost every day. Things are great. Melt-up talk is the rage. Hate to be […]
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.