The stock market has recovered most of its losses from the March COVID-19 induced sell-off and the enthusiasm with which stocks are being bought – and sold but mostly bought – could lead one to believe that the crisis is over, that the economy has completely or nearly completely recovered. Unfortunately, other markets do not support that notion nor does [...]
iTunes: https://apple.co/3czMcWN Spotify: https://spoti.fi/3arP8mY Google: https://bit.ly/3e2Z48M Castro: https://bit.ly/30DMYza Stitcher: https://bit.ly/2C1M1GB Overcast: https://bit.ly/2YyDsLa Pocketcast: https://pca.st/encarkdt Alhambra-tube: https://youtu.be/a3_txb_PhrM Twitter: https://twitter.com/JeffSnider_AIP Twitter: https://twitter.com/EmilKalinowski Art: https://davidparkins.com/ [Emil's Summary] American books and films published in 1925 will be entering the public domain next year. Included among them will be The Great Gatsby by F. Scott Fitzgerald. Upon its release the book was met with popular indifference. And [...]
What was stupidest about the past few months was how it was these guys who everyone was depending upon to make it all go just perfectly moving forward. Worse, those geniuses being held up as competent economic stewards practically reran the 2008 playbook line by line. What that said, more than anything, was that they had come up with zero [...]
Have we entered a new bull market? Was the 35% pullback in the S&P 500 in March the fastest bear market in history? Or is this just a continuation of the bull market that started in 2009, interrupted by a rather large correction? Bull markets and bear markets are about behavior, about the human emotions of fear and greed. While [...]
The job, as Jay Powell currently sees it, means building up the S&P 500 as sky high as it can go. The FOMC used to pay lip service to valuations, but now everything is different. He’ll signal to all those fund managers by QE raising bank reserves, leading them on in what they all want to believe is “money printing” [...]
iTunes: https://apple.co/3czMcWN Spotify: https://spoti.fi/3arP8mY Google: https://shorturl.at/fpsEJ Alhambra-tube: https://youtu.be/9xDka3RtxEk Twitter: https://twitter.com/JeffSnider_AIP Twitter: https://twitter.com/EmilKalinowski Art: https://davidparkins.com/ [Emil's Summary] Millennials may not know this, but many centuries ago mail came by bag not by vibration nor beep. Legendary figures took on the mantle of "Mail Carrier!" including: founding father Benjamin Franklin, Wells Fargo cowboys of the Pony Express, and nice guy Mr. McFeely from Mr. [...]
Time may not heal all wounds, after all. One thing it does do is clarify. There was a time not all that long ago when 20 million sounded absolutely enormous. How quaint today. At the end of March, initial jobless claims in the US were surpassing that unthinkable level leaving everyone to hope it wouldn’t get much worse. Having blown [...]
Another 2.1 million Americans have filed this week with their state governments in order to determine their eligibility for unemployment insurance. That brings the 10-week disaster total for these initial jobless claims to an enormous 40.8 million. How did it get to be so many, and why, as states are opening back up, is it continuing in the millions all [...]
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, [...]
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 [...]
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