ngdp targeting

Fed, ECB Do Nothing, Markets Don’t Crash

By Joseph Y. Calhoun III|2012-08-06T10:40:43-04:00August 5th, 2012|Economy, Federal Reserve/Monetary Policy, Markets, Taxes/Fiscal Policy|

There's an old saying on Wall Street that the market will always act in a way that frustrates the majority of market participants. If that is true, then it goes without saying that the majority must be bearish because this market has had ample opportunities to move lower and steadfastly refuses to do so. Coming into last week the conventional [...]

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It won’t be easy. But if we are really going to achieve something good, for our clients and for ourselves, we’re going to have to defy Puttnam’s Law. No pain, no gain. (Bob Seawright, Above the Market) At today’s price of $2.43 per million Btu at the Henry Hub—though up 28% from the April low—drilling is destroying capital at an astonishing [...]

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