Interesting (and surprising – at least to me) move by the Fed here. They announced a $10B tapering set to come in January. This looks like a “feeler” to me. [ … ]
Government Bonds in a World of Moneyness
When you learn about the monetary system from the perspective of Monetary Realism you learn about a world with the concept of “moneyness” (see here for details). The concept of [ … ]
The Most Important Charts of 2013…
This is always a good post from Business Insider. My contribution was kind of obvious, given that I’ve focused so much on household debt trends in the last 5 years: [ … ]
Updating Warren Buffett’s Favorite Valuation Metric
Here’s some perspective on the potential value of the US equity market using total stock market capitalization relative to GNP. This is an indicator that Warren Buffett has previously referred [ … ]
The Stupidest (and most prominent) QE Chart in the World
Sorry for the belligerent post title, but I really hate the chart below. You know it. You’ve seen it all over the place for 5 years straight. Heck, I’ve probably [ … ]
Ned Davis: Prepare for a 20% Decline in Stocks
Just passing along an interesting data point here from Ned Davis
Cutting IOER Will not Stimulate Bank Lending
It’s become extremely fashionable in recent weeks and months for analysts and economists to propose cutting the Interest On Excess Reserves based on the assumption that this will suddenly stimulate [ … ]
The Gold & Silver Bloodbath
This WSJ article about precious metals hedge funds highlights a very dangerous idea that became all too popular in recent years – the myth that unproductive assets should be a [ … ]
Stocks Offer Protection Amid Rising Rates
There’s a good deal of fear in the current environment about rising interest rates. BlackRock provides us with some nice perspective though. It shows a few of the recent rising [ … ]