The first-quarter 2018 Z.1 “flow of funds” report can be viewed in two ways. From one perspective, key conventional data are un-extraordinary. [...]
As I see it, cracks are opening in the greatest Bubble of all time. Serious fissures have developed in EM, Europe and China. Meanwhile, the stimulus-driven [...]
Interestingly, financial crises over the ages have often unfolded during autumn. Early economic thinkers pondered and debated the sources of instability and [...]
Where to begin? Contagion… The Argentine peso dropped another 5.0% this week, bringing y-t-d losses to 23.7%. The Turkish lira fell 3.9%, boosting 2018 [...]
Much to the consternation of our allies, President Trump withdraws from the Iran nuclear deal. WTI crude adds another 1.5% (up 17% y-t-d) this week to the high [...]
One hundred and six months. The current expansion, having emerged in the aftermath of the collapse of the mortgage finance Bubble, is now the second-longest on [...]
Conventional Wisdom is so often proved wrong. Thinking back over my career, it’s amazing how many times what is believed true without a doubt in the [...]
Equities rallied to begin the week. With Syrian missile strikes more limited than feared and no military response from Russia, there was immediate impetus to [...]
Please join me and David McAlvany for the MWM Tactical Short Second-Quarter 2018 Conference Call: “Market Structure, Trump Tariffs, Higher Rates… [...]
Please join me and David McAlvany for the MWM Tactical Short Second-Quarter 2018 Conference Call: “Market Structure, Trump Tariffs, Higher Rates… [...]
For the Final Week of a Wild Quarter: The S&P500 rallied 2.0% (down 1.2% Q1), and the Dow gained 2.4% (down 2.5%). The Utilities jumped 2.9% (down 4.5%). [...]
Deutsche Bank (DB) dropped 13% this week to a 15-month low. DB is now down 28% y-t-d. European banks (STOXX) sank 5.0% this week. Hong Kong (Hang Seng) [...]
