It Is NOT Priced-In, Stupid!
by[This piece, by David Stockman, was originally published here http://davidstockmanscontracorner.com/it-is-not-priced-in-stupid/] Among all the mindless blather served up by the talking heads of bubblevision is the…
Economics
The only game worth playing
by“I cannot leave this subject as though its just treatment wholly depended either on our own pledges or economic facts. The policy of reducing…
The US natural unemployment rate and the Fed’s interest rate policy
byIn May the US unemployment rate stood at 5.5% against the rate of 5.3% for the natural unemployment also known as the Non-Accelerating Inflation…
Interest – Inflation = #REF
byI have to admit that I derive some pleasure in taking on hoary old myths. For example, some economists assert that the interest rate…
The only thing we have to fear..
by“Let me be clear on one point: I can’t predict the short-term movements of the stock market. I haven’t the faintest idea as to…
Bonds and banks
byThis year has seen some big losses develop in the bond markets, though prices have stabilised in recent days. The chart above is of…
US Growth and employment – can the boon of cheap energy eclipse the collapse of energy investment?
byLast year’s oil price falls are still feeding through to the wider economy Oil producing states have remained resilient despite the continued lower price…
News from the richest country on earth
by“The co-authors began working on this book in 1974, just after the termination of President Nixon’s controls in the United States. Since that time,…
The fallacies of GDP
byThe common error of confusing growth with progress goes largely unnoticed, though it permeates all macroeconomic analysis. There is no better example of this…
Such terrible suspense
by“This suspense is terrible. I hope it will last.” – Oscar Wilde. Is there any investor out there not suffering from crisis fatigue…