Monthly Archives: September 2022
Why Bonds Are Behaving Like Risky Assets
Since 1976, there have been eight years in which the S&P 500 declined. Bonds softened the stock market losses every time. When stocks went down, bonds went up. Since 1987, Alan Greenspan, and the Greenspan put, made sure of it. Yet, this time is different. Over the first nine months of 2022, bonds and stocks have fallen in tandem. And as stocks have fallen, Fed Chair Powell has hiked interest rates. Continue reading
Facing Down a Wrath of Biblical Proportions
An enterprising entrepreneur did a comedic graphic of Federal Reserve Chairman Jerome Powell captioned: “IN JPOW WE TRUST.” You may have seen it. The image shows Powell flamboyantly wearing a preacher’s robe and making an esoteric hand gesture with his right hand. His face is grimacing like he’s passing a kidney stone. Continue reading
Central Planners of the World, Unite!
If you want to understand what’s up with raging consumer price inflation and Fed monetary policy, you must understand this. Right now, in the United States as in most of the world, we have a scam currency that’s controlled by central planners. Specifically, we have what Karl Marx envisioned in Plank No. 5 of his Communist Manifesto: “No. 5. Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.” Continue reading
The Politics of Control and Economic Oblivion
A recent White House fact sheet declares that President Biden has delivered on promises to cancel $10,000 of student debt for low- to middle-income borrowers. Who’s he really delivering for? Continue reading
