Currency Manipulation Done Right?
Joe should have known better than to ask, but for the sake of keeping this a blog post and not a full-blown research essay I will oversimplify as much as possible. In most media, the Swiss currency is treated like every other – as a function of, or tied to, the local economy. Thus currency .. read more
Trickle Down Isn’t Trickle Down Anymore
The justification of ZIRP/QE has been largely based, in the real economy outside subsidizing bank lending, on the premise that low interest rates stir additional or incremental borrowing. The distortion of the domestic economy in the United States since the mid-1970’s toward consumption in the household sector has been a function of this assumed dynamic. .. read more
Contrarian Alert
As an investor one must always look ahead. The stock market, as I penned earlier this week, is the rational expectation of all market participants. It is one of the 10 data series used by the Conference Board to produce it’s Index of Leading Economic Indicators. Over the years we have all experienced the psychological .. read more
