Markets rally on news of Merck Covid pill. Drug efficacy should be left to the market, not the government. FDA sacrifices human beings like lab rats. Ray Dalio chooses gold over Bitcoin. Home sales numbers are exaggerated by institutional flippers. Zillow shareholders set up for huge losses. Government involvement in
Political theater plays out over the debt ceiling. US was biggest gainer from low interest rates, but will be biggest losers when rates are high. IRS continues its attack on lower and middle income Americans. Getting into bed with the government will get you screwed. Cost of having a bank
Fed has become an arm of the US Treasury. Powell admits inflation problem is bigger and worse than he predicted. Investors rush back into energy stocks. Natural gas prices hit multi-year high. Taper trades are in; markets moving back into the inflation trade. Janet Yellen would be fired and sued
Less dovish is not hawkish. Mother of all bear markets in bonds may have just begun. Republicans only care about deficits and spending when Democrats are in charge. Plans for minting $1 trillion platinum coin would officially make the U.S. a banana republic. Increase in home inventory could lead to
Fed says the economy is great, but they will maintain the emergency policies they put in place when the economy was terrible. Fed will always choose to fight unemployment over #inflation. Fed turns blind eye to inflation because the alternative is a complete economic implosion. Fed’s policies disproportionately hurt African
China won’t let Evergrande be the next Lehman Brothers. Fed took us 1 step forward and 100 steps back. Higher retail sales doesn’t mean consumers are buying more. Americans are least likely to buy a new car since 1974. Sweden sets successful example for dealing with Covid. America is worse
Take the CPI numbers with a grain of salt. The CPI will catch up to the PPI. Fed’s new definition of transitory means a permanent reduction in standard of living. The problem isn’t a shortage of stuff, it’s an excess of money. Inflation is always and everywhere a monetary phenomenon.
Producer Price Index numbers come in higher than expected for 9th month in a row. Inflation trends show no sign of being transitory. When you properly define inflation, you know exactly who’s causing it. Bitcoin whales want the minnow’s cash. There are more job openings than unemployed people. Left shows
Grover Cleveland was really a libertarian and one of our greatest presidents. The populist movement lead to Labor Day and ultimately in 1913 to the The Federal Income tax, The Federal Reserve, and the popular election of U.S. Senators. The Woodrow Wilson presidency proved to be a disaster for America.