Tuesday, October 18, 2016

Kudos to Goldman Sachs for knowing how to make money on the election

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A friend forwarded this chart. Since the market is already pricing in a Clinton victory, shorting NJA (non-Japan Asia, in GS lingo, not ...
Monday, October 17, 2016

Big Picture: Central Bank balance sheet growth accelerates YTD: Now at $21.4 trillion

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A new flood of liquidity is being unleashed. Where will it go? (below is from the Bloomberg article)

Meanwhile, while we were thinking about the election, the trade war had already begun.

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From "US Steel Could Rise. . ." in Barron's this weekend. (The Mr. Longhi quoted is president of US Steel.)
Wednesday, October 12, 2016

"The-Policy-That-Must-Not-Be-Named" is finally unmasked.

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It's "Monetization."  Japan has finally abandoned the pretense that central bank's printing of money to fund the governmen...
Tuesday, September 27, 2016

Shakespeare's take on the Fed's failure to raise rates

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Thus conscience does make cowards of us all, And thus the native hue of resolution Is sicklied o'er with the pale cast of thought,...
Monday, August 29, 2016

Net US international investment position continues down

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Our net position is now -$7.3 trillion. Our national business model is broken, with too much consumption and not enough investment. What i...
Friday, June 10, 2016

The Economist, too, is living in a fantasy land: "The audacity of hope"

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President Obama has rightly and repeatedly pointed out that anyone who believes the economy is not doing well is "living in a fantasy l...