Data this week confirmed both that “disinflation” is not running wild and that the U.S. economy is not falling off a cliff. A comment by a senior German [...]

There was further evidence this week that loose financial conditions are working their magic. University of Michigan Consumer Sentiment added a [...]

After beginning 1968 at 3.6%, (y-o-y) CPI jumped to 6.2% to end 1969. “Disinflation” took hold, with CPI down to 2.7% by June 1972. What had been festering [...]

Q4 GDP growth was reported at a stronger-than-expected 2.9% pace, down marginally from Q3’s 3.2% – but solid nonetheless. The Atlanta Fed’s [...]

Some headlines from the week: “Fed Officials Signal Slower Pace of Rate Hikes.” “Top Fed Officials Foreshadow Further Slowdown in Rate Increases.” [...]

Please join Doug Noland and David McAlvany this coming Thursday, January 19th, at 4:00 pm Eastern/ 2:00 pm Mountain time for the Tactical Short Q4 recap [...]

Bubble: A self-reinforcing, but inevitably unsustainable inflation. Bubbles are a monetary phenomenon, fueled by some underlying source of Credit expansion. If [...]

“US Stocks Suffer Worst Year Since Financial Crisis.” “Stock and Bond Markets Shed More Than $30tn in ‘Brutal’ 2022.” “Nasdaq Closes Out its [...]

For the Week: The S&P500 slipped 0.2% (down 19.3% y-t-d), while the Dow increased 0.9% (down 8.6%). The Utilities rallied 1.5% (down 1.8%). The Banks [...]

Interesting week. The FOMC statement and “dot plot” were viewed as somewhat more hawkish than expected. In his press conference, it was a solid “Balanced [...]

I’ve been eagerly anticipating the Fed’s Q3 Z.1 report. As expected, Credit growth slowed somewhat. At a seasonally-adjusted and annualized (SAAR) $3.284 [...]

Bloomberg’s Jonathan Ferro: “What is it that Chairman Powell did on Wednesday that you disagree with?” Mohamed El-Erian: “I said it contributed to [...]