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aggregate demand

Weekly Market Pulse: Things That Need To Happen

By |2022-07-04T18:11:29-04:00July 4th, 2022|Alhambra Portfolios, Alhambra Research, Bonds, Commodities, Currencies, Economy, Markets, Real Estate, Stocks|

Perspective: per·​spec·​tive | \ pər-ˈspek-tiv b: the capacity to view things in their true relations or relative importance Merriam-Webster Perspective is something that comes with age I think. Certainly, as I've gotten older, my perspective on things has changed considerably. As we age, we tend to see things from a longer-term view. Things that seemed so important at the time, years ago, turned out [...]

The Summer Slowdown Collides With The Summers Acceleration Theory

By |2020-12-29T17:19:37-05:00December 29th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

You’d think Larry Summers would know better. Not that he stepped in it, again, but rather why he did this particular time. Making a big deal out of inflationary aggregate demand when he’s been practically the lone mainstream Economist to look at the post-2008 economy in an honest and serious fashion to then somehow failing to incorporate that view into [...]

You Will Never Bring It Back Up If You Have No Idea Why It Falls Down And Stays Down

By |2019-12-06T18:46:59-05:00December 6th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It wasn’t actually Keynes who coined the term “pump priming”, though he became famous largely for advocating for it. Instead, it was Herbert Hoover, of all people, who began using it to describe (or try to) his Reconstruction Finance Corporation. Hardly the do-nothing Roosevelt accused Hoover of being, as President, FDR’s predecessor was the most aggressive in American history to [...]

Pseudo Recovery

By |2016-04-25T17:19:32-04:00April 25th, 2016|Economy, Federal Reserve/Monetary Policy, Markets|

There has always been something off about the housing rebound from the depths of the crash. It was, of course, aided in good part by various QE’s that had the effect of skewing marginal benefits of the housing recovery to “investors” and especially institutional investors with the best, cheapest access to credit. From a cycle perspective, the great bubble ended [...]

Another Instance of The Lost Recovery/Economy

By |2015-11-18T15:50:14-05:00November 18th, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

The poor and impoverished state of the world is no true wonder given those that have claimed for themselves the “duty” of exceedingly routine disruption and wholesale distrust of markets in favor of their own very narrow interests and abilities. These are the people that give us such incompetence passing as expert and "useful" central planning: https://twitter.com/mattyglesias/status/666301870521102336?ref_src=twsrc%5Etfw Nothing like another [...]

Production Discounting Globally Suggest US Consumers In Deepening Recession

By |2015-11-13T18:24:22-05:00November 13th, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

When addressing the inability of monetary policy to actually produce its “inflation” target, the FOMC has been left to hiding. They fully and openly admit the role of oil prices in the depression of calculated inflation starting late 2014 because they reason that it somehow doesn’t apply strictly within their mandate (as if it was specifically written for monetary policy [...]

The Common Economy of 2015

By |2015-11-13T11:11:26-05:00November 13th, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

With financial markets sharply glued to the “dollar’s” renewed mischief, that means everything lies at the feet of the global economy. The US economy is supposed to be the one colorful and lively example in that otherwise souring picture, even if it has been temporarily pushed from ideal. In fact, despite all that has happened this year, and “unexpectedly” continues [...]

Like ‘Inflation’, US Trade Betrays Core Monetarism

By |2015-11-05T13:56:08-05:00November 5th, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

Much like global “inflation”, if you set out to find global “demand” you will be hard pressed to find it.  QE was supposed to be a huge boost to aggregate demand, through inflation expectations, yet the score in 2015 is hugely negative.  Overseas problems are not unfortunately so remote, despite all mainstream protestations, as you can simply trace it all [...]

The Age of Voodoo

By |2015-08-31T12:15:30-04:00August 31st, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

The Jackson Hole gathering may end up providing at least some clarification, but not even close to the manner in which everyone seems intent on inferring. With Janet Yellen’s notable absence, there isn’t the same sort of celebrity about what would have been the media hanging upon every word; that is, after all, what the Federal Reserve has become, not [...]

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