Please join Doug Noland and David McAlvany this coming Thursday, October 27, at 4:00 pm Eastern/ 2:00 pm Mountain time for the Tactical Short Q3 recap [...]
It would have been a nonevent; inconsequential. Confirming New Cycle Dynamics, the Truss government’s “mini budget” has unleashed absolute mayhem. [...]
Adapted from my Friday, October 7, 2022, presentation at the annual McAlvany Wealth Management Client Conference in Durango, Colorado. I fell in love with [...]
Global de-risking/deleveraging has taken A Threatening Turn. It’s no exaggeration to write that the UK pension system was this week at the brink of [...]
It really got going Tuesday. Chinese “big four” bank CDS each surged about 10 bps, the largest single-session gains since the July 15th peak “risk [...]
Hotter-than-expected August CPI and quarterly options/derivatives expiration made for a toxic mix. “Core” CPI was reported up 0.6% for the month (7% [...]
Reuters headline: “U.S. Household Wealth Suffers Record Drop in Second Quarter.” Bloomberg: “US Household Net Worth Falls Most on Record on Slump in [...]
Global “Risk Off” gathers momentum by the week. Crisis Dynamics fester, as global central banks coalesce around a united front for battling inflation. The [...]
I appreciate that Jay Powell is no ideologue. His Fed has made some historic missteps, and Powell as Chair has sometimes flailed. But I’m willing to cut him [...]
It was in ways business as usual. “Risk off” had attained powerful momentum globally back in July. De-risking/deleveraging dynamics were increasingly [...]
Wednesday’s CPI release was telling. July consumer price inflation data were somewhat better than forecasts. Instead of increasing 0.2%, headline CPI was [...]
Bloomberg’s David Westin (Wall Street Week, July 29, 2022): “What do you economists do when you put together these neutral rates?” Larry Summers: “I [...]
