Tag Archives: federal reserve
Waiting for a Punchline that Never Comes
Some actions in life are so terrible they’re impossible to reverse. There are no second chances. There are no do overs. The wreckage is lasting. Continue reading
Dollar Debasement as Permanent Policy
Fed Chair Jerome Powell recently stated quantitative tightening is about to end. What’s more, this will happen well before the Fed’s balance sheet ever gets close to $4 trillion, which is where it was prior to the coronavirus money printing festival. Continue reading
The Unvirtuous Cycle of Rate Cuts
Trying to artificially control things like interest rates without understanding the underlying economic realities leads to an unvirtuous cycle full of unintended, and often unpleasant, consequences. Over the last 112 years this has resulted in a steadily declining dollar and massive debt and deficits. Continue reading
The CAPE Crusader Unveils a Bubble
When you see a CAPE of 37.05, you’re looking at a market that is more than twice as expensive as its long-term average. This isn’t a slight overpricing. Rather, it’s an extreme overvaluation. This is, in fact, a bubble. Continue reading
