jsnider

About Jeffrey P. Snider

Jeff is the Head of Global Research at Alhambra Investments. He is not an economist, which is probably why he's been able to develop a working model of the global monetary system. His research is unique and informative in ways an economist would never consider. Give us a call at 1-888-777-0970 or via email at info@alhambrapartners.com to discuss how his unique approach informs our investment decisions. We'd be happy to discuss our investment strategies and provide a complimentary portfolio review.

The *Optimists* Have Some Terrible News For the ‘V’

By |2020-05-27T19:18:33-04:00May 27th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

It has to be a combination of confirmation bias and rationalizations. Not even the official story finishes up with the fairy tale ending. The “V” people seem to be ignoring what the most optimistic group is actually saying. And these optimists absolutely want it to be that way.It bears repeating the “V” case; that once the non-economic shutdowns are lifted, [...]

What Would The Hole Be Without The ‘L’?

By |2020-05-27T17:23:45-04:00May 27th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It’s a pretty simple question, at least when asked by a member of the American citizenry not already compelled by one bias or another. Did the 2009 “stimulus” bill (American Recovery and Reinvestment Act; or ARRA) work? The answer depends upon who you ask, including breaking down along partisan lines. To Democrat Economists, it absolutely did. For their Republican counterparts, [...]

Getting A Sense of the Economy’s Current Hole and How the Government’s Measures To Fill It (Don’t) Add Up

By |2020-05-26T18:10:57-04:00May 26th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The numbers just don’t add up. Even if you treat this stuff on the most charitable of terms, dollar for dollar, way too much of the hole almost certainly remains unfilled. That’s the thing about “stimulus” talk; for one thing, people seem to be viewing it as some kind of addition without thinking it all the way through first.You have [...]

Eurodollar University’s Making Sense; Episode 10: *The* Illusion

By |2020-05-26T14:55:26-04:00May 26th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

iTunes: https://apple.co/3czMcWN Spotify: https://spoti.fi/3arP8mY Google: https://shorturl.at/fpsEJ Alhambra-tube: https://youtu.be/P7Wx7AYFDsQ Twitter: https://twitter.com/JeffSnider_AIP Twitter: https://twitter.com/EmilKalinowski Art: https://davidparkins.com/ [Emil's Summary] Then: a man or a woman who is a medium or a wizard was ascribed powers of enchantment and the supernatural. Now: a monetary technocrat is imbued with necromancy, conjuring money out of thin air and levitating stock markets.About: We are informed by the financial press the [...]

Now Back To Our Regularly Scheduled Program, Doubting ‘Global Growth’

By |2020-05-22T18:34:26-04:00May 22nd, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Has the Keynesian intellectual been able to re-assert himself with China’s economy once again on the brink of breaking down? Li Keqiang is nominally the Communist number two but had seen his role especially in economic affairs curtailed after a 2015-16 struggle with Xi Jinping. The issue was debt versus growth.As a trained Economist, Li was responsible for the government’s [...]

No Flight To Recognize Shortage

By |2020-05-20T15:19:25-04:00May 20th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

If there’s been one small measure of progress, and a needed one, it has been the mainstream finally pushing commentary into the right category. Back in ’08, during the worst of GFC1 you’d hear it all described as “flight to safety.” That, however, didn’t correctly connote the real nature of what was behind the global economy’s dramatic wreckage. Flight to [...]

The Reason For So Many Lies: He Finally Realizes He’s In Way Over His Head

By |2020-05-19T19:35:44-04:00May 19th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

This is not a man who’s comfortable thrust into a position of leadership. Say what you want about Ben Bernanke, and there’s a lot that still needs to be said, he at least carried on with the arrogance through thick and thin (almost entirely the latter). Jay Powell sounds like a boxer who just realized the lightweight he thought he [...]

Ring, Ring, Hündchen

By |2020-05-19T16:02:24-04:00May 19th, 2020|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

They really do seem to love Jay Powell’s announcement effect, these Germans. Magic words, no relation to what’s actually done only what’s said. Confirming in every way what I wrote yesterday, the psychology of money-less monetary policy being acted out exactly according to the plan. Central bankers do, those trained by Economics schools respond in predictable fashion.Pavlov is in awe [...]