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Birinyi’s S&P 3200 Call——Bull From A 30-Year Bull
Birinyi’s S&P 3200 Call——Bull From A 30-Year Bull When stock market guru Laszlo Birinyi told bubblevision today that S&P 3200 would be reached by 2017, his argument was essentially to keep on keeping on: “What we’re really trying to tell people is stay with it, don’t let the bad news shake you out…There’s no reason […]
Pop Goes The Alpha ( Natural Resources)
Pop Goes The Alpha ( Natural Resources) If you want a cogent metaphor for the central bank enabled crack-up boom now underway on a global basis, look no further than today’s scheduled chapter 11 filling of met coal supplier Alpha Natural Resources (ANRZ). After becoming a public company in 2005, its market cap soared from practically nothing to $11 billion […]
Central Banks Have Shot Their Wad——-Why The Casino Is In For A Rude Awakening, Part I
Central Banks Have Shot Their Wad——-Why The Casino Is In For A Rude Awakening, Part I There has been a lot of chatter in recent days about the plunge in commodity prices—–capped off by this week’s slide of the Bloomberg commodity index to levels not seen since 2002. That epochal development is captured in the chart below, but […]
The Curse Of The Euro: Money Corrupted, Democracy Busted
The Curse Of The Euro: Money Corrupted, Democracy Busted The preposterous Gong Show in Brussels over the weekend was the financial “Ben Tre” moment for the Euro and ECB. That is, it was the moment when the Germans—–imitating the American military on that ghastly morning in February 1968——set fire to the Eurozone in order to save it. Some day history will […]
The Curse Of The Euro: Money Corrupted, Democracy Busted
The Curse Of The Euro: Money Corrupted, Democracy Busted The preposterous Gong Show in Brussels over the weekend was the financial “Ben Tre” moment for the Euro and ECB. That is, it was the moment when the Germans—–imitating the American military on that ghastly morning in February 1968——set fire to the Eurozone in order to save it. Some day history will […]
Why China’s Market Isn’t Fixed And The Global Bubble Will Keep Imploding
Why China’s Market Isn’t Fixed And The Global Bubble Will Keep Imploding China’s stock market is purportedly all fixed and the last two day’s 10% bounce is just the beginning. Indeed, Goldman Sachs has already reiterated that the whole thing is on the level, and that the red chips will again be taking flight: China’s biggest stock-market rout since 1992 […]
Economic Stagnation And The Global Bubble
Economic Stagnation And The Global Bubble You’d think with all the “stimulus” from Washington over the fifteen years since the dotcom bust, American capitalism would be booming. It’s not. On the measures which count when it comes to sustainable growth and real wealth creation, the trends are slipping backwards — not leaping higher. After a […]
Good On You, Alexis Tsipras (Part 1)
Good On You, Alexis Tsipras (Part 1) Late Friday night a solid blow was struck for sound money, free markets and limited government by a most unlikely force. Namely, the hard core statist and crypto-Marxist prime minister of Greece, Alexis Tsipras. He has now set in motion a cascade of disruption that will shake the corrupt status quo to […]
The Euro Was Doomed From The Start—–And Still Is
The Euro Was Doomed From The Start—–And Still Is Next week will be a momentous one for Europe, with a string of crucial meetings including the summit at which the PM will table his renegotiation demands. We may be focused on our renegotiation but it is Greece which will dominate. For some time it has looked […]
Australia’s Housing Bubble—–The Mania Down Under
Australia’s Housing Bubble—–The Mania Down Under Australians are being “irrationally exuberant” and borrowing too much to invest in housing, exposing the economy to financial shocks, global bond fund giant PIMCO says. In a detailed statistical study that compares Australian borrowers to those in other countries, PIMCO researchers found that Australians’ decision to borrow is driven […]
Global Cooling Alert: World Faces Longest Oil Glut In Three Decades
Global Cooling Alert: World Faces Longest Oil Glut In Three Decades The world is on the brink of the longest-lasting oil glut in at least three decades and OPEC’s quest for market share makes it almost unavoidable. Oil supply has exceeded demand globally for the past five quarters, already the most enduring glut since the […]
The Futility of Our Global Monetary Experiment
The Futility of Our Global Monetary Experiment Jeff Deist: The Fed recently announced just this past week that it would not use specific dates for targeting higher Fed funds rate this year and you almost get the sense that poor Janet Yellen is at the end of this Greenspan-Bernanke experiment and there’s not much left […]
ZIRP——The Monetary Trick Which Killed Wages
ZIRP——The Monetary Trick Which Killed Wages Stupid Fed Trick Number 1 The Fed thinks that keeping interest rates low spurs inflation. It was probably happy to see the purported uptick in wage inflation in the just released May jobs report. It wants to see wages start rising to create a bit of inflationary pressure. That […]
Stay Out Of Harm’s Way—-The Casino Is Fixing To Blow
Stay Out Of Harm’s Way—-The Casino Is Fixing To Blow Shock waves have been rumbling through the global bond market in the last few days. On April 17 the yield on the 10-year German bund pierced through the 5bps level, but yesterday it tagged 100bps. That amounted to a 20X move in 39 trading days. It also amounted to total annihilation if you […]
From Whence Cometh Our Wealth—–The People’s Labor Or The Fed’s Printing Press?
From Whence Cometh Our Wealth—–The People’s Labor Or The Fed’s Printing Press? It is hard to believe that in these allegedly enlightened times this question even needs to be asked. Are there really educated adults who believe that by dropping helicopter money conjured from thin air, the central bank can actually make society wealthier? Well, yes there […]
