“Nobody really understands gold prices, and I don’t pretend to understand them either.” …
The Fed Thinks Higher Prices Are Good For You
The Federal Reserve Board’s quantitative easing program was an unprecedented monetary experiment that dumped trillions of dollars of new money into the economy. Historically, adding that much money to the…
Strength Isn’t Always Good
With the dollar strengthening rapidly relative to other currencies, in part as a result of Donald Trump’s election victory, consider this irony: The price of imports will fall, making them…
The Fed’s Multi-Trillion Dollar Ponzi Scheme
“You loan me ten bucks. I photocopy the bill four times, give you back one of the copies, and announce that we’re square. That’s monetizing the debt.” …
Theater of the Absurd
Vladimir: “Well? What do we do?” Estragon: “Don’t let’s do anything. It’s safer.” From “Waiting for Godot” In Waiting for Godot, two men spend more than an hour talking nonsense…
Inflation: The Fed’s Red Herring
If you wanted to boost economic growth, which of the following would you focus on? U.S. corporate taxes, which are the world’s highest and are driving businesses to relocate abroad…
Set. Down. No Hike.
The economic outlook can be summed up in five words: Everything’s great, except what isn’t. We’ll lead with the “everything’s great” part, as seen through the filter of the Federal…
Hard Landing
The Federal Reserve Board’s Open Market Committee met last week for the first time since raising interest rates in December and then published its usual policy statement full of mush.…
The Big Disconnect
Imagine being stuck in a blizzard. You look out your window and can see the snow piling up outside, yet the meteorologist on your TV is forecasting continuing sunshine and…
Brady Plot Puts U.S. Economy on Verge of Deflation
The Federal Reserve Board – which may be the smartest deliberative body on the face of this earth – bought more than $3.5 trillion in bonds in an effort to…