It was all over the news last week. Inflation has arrived. The CPI was hotter than expected. The PPI was even hotter. Import prices were up and export prices were up more. It was impossible to miss the inflation story last week. Stocks got the message and sold off on the hot CPI and finished the week lower for a [...]
73.0: LIVE! Reaction Answering the WSJ's Greg Ip———Ep 73.0 Intro———According to a Wall Street Journal opinion column, solid wage growth and unfilled openings point to much less labor market slack than headline unemployment data. Might the US employment situation be much better than widely believed? Might the economy take off? Jeff Snider reacts live. ———See It———– Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———Hear [...]
72.0: Warren Buffett Knows Stocks but Not Money———Ep 72.0 Summary———Warren Buffett knows stocks but not money. From 2009-12 Warren Buffett warned that emergency monetary and fiscal action would make inflation surge. He warned that the US dollar was in the hands of a profligate Congress; that Treasuries would lose real value. He was wrong. On all counts. ———See It———– Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra [...]
71.0: Collateral Supply Effect on Central Bank Policy———Ep 71.0 Summary———Professor Sissoko focuses attention on the fact that the post-2008 financial system has changed dramatically but that technocrats have not tackled what the changes mean. Sissoko discusses the path to the 2008 and 2020 shocks and proposes we turn the clock back to a wiser time. ———See It———– Twitter: https://twitter.com/@csissokoSocial Science Research [...]
We have reached the point of absurdity in the crypto markets. There were people buying Dogecoin last week in anticipation of Elon Musk's appearance on Saturday Night Live, with the expectation, presumably, that he would say something bullish and they'd be able to ring the cash register. Easy, peasy, cha-ching. Except, well, at last check it didn't work out that [...]
69.0: LIVE! Reaction - Answering The Economist———Ep 69 Intro———The Economist magazine states that "the covid-19 crisis is highlighting the limits of unemployment-insurance figures" and therefore "jobless-claims data give little insight into America’s economy". Jeff Snider reacts Live! to the article and offers his own thoughts. ———See It———– Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———Hear It——— Vurbl: https://bit.ly/3rq4dPnApple: https://apple.co/3czMcWNDeezer: https://bit.ly/3ndoVPEiHeart: https://ihr.fm/31jq7cITuneIn: http://tun.in/pjT2ZCastro: https://bit.ly/30DMYzaGoogle: https://bit.ly/3e2Z48MSpotify: https://spoti.fi/3arP8mYPandora: https://pdora.co/2GQL3QgBreaker: https://bit.ly/2CpHAFOCastbox: https://bit.ly/3fJR5xQPodbean: https://bit.ly/2QpaDghStitcher: https://bit.ly/2C1M1GBPlayerFM: https://bit.ly/3piLtjVPodchaser: https://bit.ly/3oFCrwNPocketCast: https://pca.st/encarkdtSoundCloud: https://bit.ly/3l0yFfKListenNotes: https://bit.ly/38xY7pbAmazonMusic: https://amzn.to/2UpEk2PPodcastAddict: https://bit.ly/2V39Xjr ———Ep 69.0 Topics——— 01:29 The Economist finds [...]
68.3 US Treasury Auction Brings Surprisingly Bad News ———Part 3 Summary———On April 23 the 5-year US Treasury Inflation Protected Security auction resulted in LOWER inflation expectations. For years now these auctions conveyed RISING market-based inflation expectations. But now? With monetary 'printing' and fiscal 'stimulus' gone wild the market says, "Put your shirt back on." ———Sponsor——— But first, this from Eurodollar Enterprises! Friends, [...]
68.2 US Treasury Bond Futures Crossed Red Line Long Ago———Part 2 Summary———Open interest in US Treasury Long Bond futures have crossed the 800,000-line only a few times in the past quarter-century. Nothing ever good happened in markets or the world economy when that happened. Where are they today? Almost 1.2 million. Why, who and when? ———Sponsor——— But first, this from Eurodollar [...]
68.1 This is the Hedge Fund Trade that Blew Up in 2020———Part 1 Summary———The rise and fall of an arbitrage trade by hedge funds known as the Treasury cash-futures basis trade. That was the focus of an excellent research paper by two government researchers. But there's just one problem. They don't ask what caused the rise of the basis trade [...]
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