by pentoport | May 11, 2020 | Commentary
May 11, 2020 Since the Great Recession hit in 2008, central banks have been in the business of keeping insolvent governments from defaulting through the process of pegging borrowing costs near zero. These money printers are now in the practice of propping up...
by pentoport | May 4, 2020 | Commentary
May 4, 2020 My friend Larry Kudlow always says that Profits are the mother’s milk of stocks. That used to be true when we had a real economy. But sadly, that is no longer factual because we now have a global equity market that is totally controlled by central...
by pentoport | Apr 13, 2020 | Commentary
April 13, 2020 We are all praying for the Wuhan virus to die. But there is something the virus can actually “cure” itself: deflation. I put the word cure in quotes because it’s not an actual issue in reality. Low inflation and disinflation are actually great...
by pentoport | Mar 30, 2020 | Commentary
My clients have known for a long time that the nucleus of the next crisis will be in the over-leveraged corporate bond market. This notion was confirmed recently in an article from the WSJ: companies that borrow in the junk loan market are now in a far weaker...
by pentoport | Mar 23, 2020 | Commentary
The U.S. National Debt is about to surge like never before, along with the rest of the entire planet’s gigantic pile of sovereign IOUs. America started with a $23.5 trillion debt before the Wuhan virus outbreak, with annual deficits running over a $1 trillion; and...
