Anaysis of Latest memo from Howard Marks: Economic Reality

This is going viral: Latest memo from Howard Marks: Economic Reality, presented by Oak Tree Capital. Central bank actions can encourage or accelerate economic activity, but they can’t create economic activity that otherwise wouldn’t occur. Much of what central banks do consists of making things…

Collapse Can Wait, Part 2

Aaron is right about America’s reserve currency status, and also there is the petrodollar in addition to the ‘flight to safety’ and other factors that are keeping interest rates low and the dollar high, all thanks to American exceptionalism. As bad as the US economy…

Collapse can wait

From David Stockman: Why This Sucker Is Going Down…….Again! In a word, with a printing press. But what happened today is that Draghi showed he is out of tricks and Yellen confessed she is out of excuses. Yes, this sucker is going down. And this…

Economics Myths, Part 5: QE (Quantitative Easing) Misconceptions

Few subjects cause as much confusion as QE. The confusion arises due to the politicization of the issue, as well as common misunderstandings and misconceptions about QE that reverberate throughout the blogging/media echo chambers. There are three major misconceptions about QE: 1. QE is money…

Nike Reports Blowout Earnings, Don’t Blame Bull Market on QE

Wish I had more time to read NRx & HBD blogs and related commentary, but I’ve been glued to the stock market in anticipation of the market breaking higher, in which case I am prepared. The Grey Enlightenment is a midpoint between the ‘Dark Enlightenment’…