Here I was in Zadar, Croatia enjoying myself, while there was a little matter of a Fed Meeting Statement, and Chairman Jerry’s Dog and Pony show.
Wall Street was waiting with bated breath, that’s right, bated, but I had taken an afternoon stroll around the harbor, on the lookout for baited hooks. Just like walking on Wall Street. You gotta be on the lookout for baited hooks.
There he was, the Fed Chairman stumbling through a question about headwinds and transitory factors. No, not Jay Powell in January 2020, this was Ben Bernanke in June 2011. The Fed had just downgraded its recovery forecasts (again) and some in the media weren’t getting it. After all, QE2. It was this enormously powerful monetary […]
Ignored but true: All the projections about coming growth as a result of tax cuts have been proven wrong. All the promises that tax cuts would pay for themselves: Wrong. All the […]
Gold has established a trading range with clear parameters to indicate whether it’s in trouble, or on track. Subscribers, click here to download report. Try…
Thank the Fed’s Not QE program, and light Treasury supply! Supply and demand conditions for stocks and bonds have been as good as it gets. That’s about to change.
It’s a palpable impatience. Having learned absolutely nothing from the most recent German example, there’s this pervasive belief that if the economy hasn’t fallen apart by now it must be going the other way. The right way. Those are the only two options for mainstream analysis (which means it isn’t analysis). You can see it […]
Everyone expecting a quick resolution to the epidemic and a rapid return to pre-epidemic conditions would be well-served by looking beyond first-order effects.While the media naturally focuses on the immediate effects of the coronavirus epidemic, …
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.
According to analysts and economists who watch these things, Germany’s IFO Business Climate Index was expected to continue its rise. Having purportedly bottomed out back in September, like other sentiment indicators this one had been on the rebound, too, if, though, much less than those others (especially the “stimulus” loving ZEW). While maybe not suggesting […]
The potential for a consequential disruption in China’s supply chains appears to be vastly under-appreciated.Despite the current drop in stocks (less than 1.5% as this is written), there’s a tremendous reservoir of complacency about the econo…