by pentoport | Jul 13, 2020 | Commentary
July 13, 2020 We can all be very confident that there will be no change to monetary policy for a very, very long time. But there is a fiscal cliff coming—and indeed has already begun. It is clear that Mr. Powell is all-in on his unlimited QE and ZIRP. And, that he is...
by pentoport | Jun 29, 2020 | Commentary
June 29, 2020 We start this week’s commentary with some rather depressing news from Reuters: The ratio of downgrades to upgrades in the credit ratings of leveraged loans has spiked to a record level, five times above that hit during the last global financial...
by pentoport | Jun 22, 2020 | Commentary
June 22, 2020 The Fed mistakenly believes it can control the rate of inflation with relative ease. While it believes it is far easier to fight a rising rate of inflation than deflation, it is still completely convinced the puppet strings of extant price levels rest...
by pentoport | Jun 8, 2020 | Commentary
June 8, 2020 The sad truth is that few people really know very much about gold, especially when it comes to investing in the metal. They don’t understand what makes it so valuable and unique, and they know even less what moves its price. Since I don’t want to spend an...
by pentoport | May 26, 2020 | Commentary
May 26, 2020 The Atlanta Fed’s GDP Now Estimate for Q2 Economic growth is minus 41.9%. Thirty-nine million people filed Initial Jobless Claims in the past nine weeks. Continuing Jobless Claims (including Pandemic Unemployment Assistance) surged to over 31...
