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No Bubble Here, Folks!
No Bubble Here, Folks! Anyone see a bubble anywhere? This is short and sweet because the picture says it all: We’ve just seen the fastest, highest rocket ride in stocks in the history of the world! Because that makes sense during a time of global plague and global economic lockdowns, creating extreme labor shortages, resulting […]
Fed and Treasury Steer Their Unsinkable Ship toward Iceberg
Fed and Treasury Steer Their Unsinkable Ship toward Iceberg This past week we got to observe Fed Chair Jerome Powell and the US stock market andthe US bond market do everything I said they would do in their complicated shuffle of ships-and-icebergs: “I’m sure many helium-headed stock investors believe the lilly-livered Fed will turn tail […]
Dr. Fed Frankenstein Kept Alive by Zombies
Dr. Fed Frankenstein Kept Alive by Zombies Did you know Dr. Frankenstein created a monster that stays alive to this day by eating zombies? Neither did the zombies. Neither, apparently, did Dr. Frankenstein. In fact, the zombies, being braindead as zombies are, do not realize that they are also keeping alive the diabolical doctor who […]
Repocalypse: The Second Coming
Repocalypse: The Second Coming This little monster that feeds beneath the surface of global banking at its core briefly raised one ugly eye out of the water as 2018 turned into 2019. I wrote back then that the interest spike we saw in the kind of overnight interbank lending known as repurchase agreements (repos) was […]
It’s Been a Great Recession for a Few; Let’s Do it All Again!
It’s Been a Great Recession for a Few; Let’s Do it All Again! This month the economic expansion brought to you by your Federal Reserve and by US government largess becomes the longest expansion in the history of the United States! That’s something, right? Something? Let’s take an honest look at what we now call […]
Liquidity Stress Fractures Begin to Show in the Federal Reserve System
Liquidity Stress Fractures Begin to Show in the Federal Reserve System In my January Premium Post, “An Interesting Interest Conundrum,” I laid out how the Federal Reserve was losing control over the Fed funds rate — a loss of control over its bedrock interest rate that indicates financial stresses are building in the banking system […]
Epocalypse Ahead on Highway to Hell for Global Economy and US Stock Market
Epocalypse Ahead on Highway to Hell for Global Economy and US Stock Market First I said I believed the US stock market would plunge in January, but I also said that January would not be the biggest drop, but just the first plunge that begins a global economic collapse: the big trouble for the economy and the […]
Epocalypse Soon: The Great Economic Collapse is Happening
Epocalypse Soon: The Great Economic Collapse is Happening I use the term “epocalypse” to name the last days of the global economy as we know it — a global economic collapse of biblical proportion. It is economic, epochal, an apocalypse that will change the world and a collapse … all in one word that sounds the right size for what I’m talking about. […]
