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Toward Rate Cuts: What If The Landmine Was Real?

By |2019-07-01T17:05:31-05:00July 1st, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It was supposed to be the Chinese government who was going to rescue the global economy. Once the rationalizations ended and officials around the world realized there was serious economic weakness building at the end of 2018 instead of a globally synchronized inflationary recovery, the green shoots of 2019 were going to be in one [...]

Greenspan’s Massacre Masterpiece

By |2019-03-13T13:06:17-05:00March 13th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

What most Economists “learned” from the Great Inflation was how important psychological factors had become. You would think that such a huge monetary disconnect would teach especially monetary officials the importance of monetary competence. However, as Upton Sinclair once wrote, paraphrasing, it’s difficult to get a central banker to understand money when his paycheck can [...]

No Building Left To Build A Boom

By |2019-03-04T18:26:44-05:00March 4th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

For the last several years, the US recovery following its experience with the global 2015-16 downturn has been lacking in several key dimensions. Reflation #3 in the real economy has reflected the lack of momentum and altitude in the snapback across the eurodollar system. As such, of all the reflation episodes this last one was [...]

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