The Great Reconciliation of Asset Prices

December 20th, 2021 The coming new year will be fraught with risk due to the removal of central bank and government supports. This could very likely lead to the collapse of the most overvalued stock market in history. According to the Conference Board, US economic...

Interest Rate Normalization is Impossible

November 8, 2021 Stagflation is undermining the U.S. economy, and that poses a huge problem for Mr. Powell and his merry band of money printers. Inflation is running at a pace that is just about 3x faster than real GDP growth–a figure the Fed can no longer...

The Demand Shock of 2022

October 11, 2021  Investors are growing cautious as we approach the fourth quarter, and their trepidation is justified. Here’s a brief summary of the situation: there is a potential global financial crisis stemming from the Chinese property market meltdown, supply...

The Great Deflation of 2022

August 30, 2021  It is not very surprising to me that nearly every talking head on Wall Street is convinced inflation has now become entrenched as a permanent feature in the U.S. economy. This is because most mainstream economists have no clue what is the progenitor...

Happy 50th Anniversary Gold

 Happy 50th Anniversary Gold August 23rd 2021  Friday the 13th of August 1971 was a very important date in U.S. history. It was the date that set the table for the beginning of the end of the USD’s world reserve currency status. And, greatly expedited the road...

Fed: Murderer of Markets and the Middle Class

July 26th 2021  The Fed’s manipulation of the money supply and its cost has served to obliterate the function of asset price discovery, just as it has also caused the middle and lower classes to reduce their standard of living. Since a greater percentage of their...