Searching for clues or even small collateral indications, you can’t leave out the gold market. We’ve been on the lookout for scarcity primarily via the T-bill market, and that’s a good place to start, yet looking back to last March the relationship between bills and bullion was uniquely strong. It’s therefore a persuasive pattern if or when it turns up [...]
When the ECB’s leadership presented their first QE to the assembled media on March 5, 2015, there was a lot of the usual corporate-speak. It sure wasn’t fedspeak, the purposefully obfuscating wordsmithing of the kind made infamous by Alan Greenspan. No, on this occasion, to the contrary, Mario Draghi, the ECB’s President, wanted to be perfectly clear in what he [...]
Alhambra CEO Joe Calhoun discusses the quick dip and recovery that happened last week and what investors should do when considering what to buy.
If you were waiting for a correction in stock prices to put some money to work, you got your chance last week. The Dow Jones Industrial Average was down nearly 1000 points at the low Monday and closed down 725, a loss of a little over 2%. The S&P 500 did a little better but closed down 1.5%. It looked [...]
89.3 The Real Reason El Salvador went Crypto———Ep 89.3 Summary———El Salvador announced its crypto intentions seemingly out of the blue. But a closer look reveals the nation had run dangerously short of (euro)dollars in early 2021. It went to the IMF for a bailout. Now it heads to the crypto world for one. Just like people did in the 14th-century. [...]
I’m just going to post some brief comments on other parts of the TIC data. The major takeaway from the May 2021 update is what I wrote earlier, how what these figures show is both entirely consistent with what will be to most people a surprisingly long history as well as completely misconstrued in mainstream conversations (what few may take [...]
Like so many other monetary things, the name itself is misleading though it’s not immediately clear why. The Asian Financial Crisis (or Asian flu, as many called it back in the day) began in Thailand, became a financial crisis, and spread throughout, well, Asia. How else would anyone label it?This name, however, radiates an impression that this was a lot [...]
Global factors, meaning that the wave of significantly higher deflationary potential (therefore, diminishing inflationary chances which were never good to begin with) in global bond yields the past five months have seemingly focused on troubles brewing outside the US. Overseas turmoil, it was called back in 2015, leaving by default a picture of relative American strength and harmony.The rest of [...]
Conventional wisdom has said for a long time that a recession is two consecutive quarters of declining output. Where this idea came from, who knows. It’s a shorthand that was put together over time derived from the folks at the NBER. This latter group has claimed the responsibility for being the “official” arbiter of every recession, having become the go-to [...]
89.1 Jay Powell Sees Safe-Asset Demand Surge; Why?———Ep 89.1 Summary———Jay Powell has confirmed a surging Fed program (RRP) is partly the result of safe-asset demand. But he plays it off as a monetary technicality, mere arcana. Nope! Safe-asset scarcity is step one along a well-trod path towards a malfunctioning economy. Here's what happens next. ———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 [...]
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