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The Quick Burn of Balance Sheet Capacity Is the Recovery’s Mangled End

By |2015-11-06T17:13:40-05:00November 6th, 2015|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

While the stock market had one of its best months in years, it was, like the jobs report, uncorroborated by almost everything else. The junk bond bubble, in particular, stands in sharp and stark refutation of whatever stocks might be incorporating, especially if that might be based upon assumptions of Yellen’s re-found backbone. Do or do not, corporate junk remains [...]

Broad Domestic Fear Is A Change

By |2015-08-25T16:12:48-04:00August 25th, 2015|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

I think broad trading today actually confirms yesterday’s hypothesis of the marked appearance of fear. In reversing exactly (or nearly so) almost everything from yesterday, across the board, it seems as if the juxtaposition settles that interpretation. I noted that it wasn’t just gold bid in contrast to the selling and “dollar” frenzy, the Swiss franc had joined on the [...]

‘Rationality’ Behind the Currency Genocide

By |2015-04-22T10:41:10-04:00April 22nd, 2015|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

I believe the phrase that is attaining Paul Krugman all these invitations to “consult” on economic failure is one that he has used pretty consistently for years. He says “deflationary vortex” and for a long while it was ignored as studious monetarists were busy inflating away; except that none of them, from the Fed to BoJ to the ECB, even [...]

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