Category Archives: Inflation
Adapting to Higher Yields
Jamie Dimon, CEO of JPMorgan Chase, recently said he wouldn’t buy long-term U.S. Treasuries. His rationale is simple, he “doesn’t understand the upside.” Continue reading
Why the Era of Cheap Money is Dead
Most Americans, and people across the planet, have been trained by a financial system where borrowing costs became perpetually cheaper. If you got into a pinch, you could refinance your mortgage, with more agreeable terms, and quickly increase your cash flow. Continue reading
Liquidity At Any Cost
Over the last few years, it appeared that the Federal Reserve was finally attempting to get its house in order. After the insane pandemic-era peaks, where its balance sheet ballooned to over $8.9 trillion, the central bank spent years on a steady program of balance sheet reduction. Continue reading
The Digital Noose Tightens
In January, as part of our 2026 outlook, we detailed how the GENIUS Act, which was signed into law by President Trump on July 18, 2025, would bring about the next shift in American money. The GENIUS Act, if you recall, requires stablecoins to be backed one-for-one by U.S. dollars or short-term U.S. Treasuries. Continue reading
