Monthly Archives: May 2024

The Fed’s Harrowing Search for Ample Reserves

Inserted between the push and pull of consumer price inflation and interest rates is the direct market intervention of central planners. Decisions made one day can have lasting penalties upon the next. Yesterday’s monetary policy blunders by the Federal Reserve bring forth adverse conditions today. Continue reading

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Happy Motoring in the Time of Biden

By all accounts, lizards are important. Their lives matter. Like you, and the duck-billed platypus, they deserve to live in peace and harmony. Continue reading

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This Inflation Script Won’t Last

The Shiller’s cyclically adjusted price-to-earnings (CAPE) ratio for the S&P 500 is currently 34.66. This is representative of a stock market that has lost all touch with reality. It even exceeds the 31.48 CAPE ratio hit in 1929, just before the stock market crashed and the onset of the Great Depression. Continue reading

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What You Must Know About Interest Rates

The buzz has faded away. The intoxicating effects of the mass money printing and debt binge during the coronavirus years has come and gone. But the hangover remains. And while the money printing has subsided – for now – the debt binge has continued. Continue reading

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