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Pot Meets Kettle
Late Friday the Treasury Department released its semi-annual report on global exchange rates or as I like to call it, the semi-annual report on why all other countries on planet earth should let their...
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Deja Vu All Over Again?
Gold dropped 20%. Oil dropped over 10%. The Goldman Sachs Commodity Index dropped 11%. The US Dollar rose. Last week? No, that’s what happened in the first week of July of 2008. Last week’s rout in the...
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Confessions Of A Gloomy Gus
I have recently been accused of being a paid up member of the gloom and doom club. Well, actually accused might be too strong; informed is probably more accurate. I don’t spend a lot of time thinking...
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Rising Dollar: Good News, Bad News
So here we are nearly 6 years removed from the last global financial crisis – surely not the last – and while a lot has been done by global economic policymakers, it seems that not much has really been...
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The Deflation Threat
There’s been a lot of talk recently about deflation – no I’m not talking about the New England Patriots – so maybe it’s a good time to talk about what it really is and why so many economists seem to be...
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Currency Wars & Newton’s Third Law
Newton’s Third Law states that for every action there is an equal and opposite reaction. Economics is certainly not science so the application of Newton’s law would seem inappropriate for analyzing the...
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One More Time: The Economy Is Not The Market
The title is a shorthand way of saying that the most recent performance of the economy isn’t predictive of the future performance of the stock market. The bottom line is that GDP growth today doesn’t...
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There Is Only One Global Trade War
IHS Markit reported last week that its composite Purchasing Managers Index (PMI) rebounded slightly in its first reading for June 2018. In January, the index had managed nearly 59, the highest in a...
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The Myth of CNY DOWN = STIMULUS Won’t Die
On the one hand, it’s a small silver lining in how many even in the mainstream are beginning to realize that there really is something wrong. Then again, they are using “trade wars” to make sense of...
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Lagarde Channels Past Self As To Japan Going Global
As France’s Finance Minister, Christine Lagarde objected strenuously to Ben Bernanke’s second act. Hinted at in August 2010, QE2 was finally unleashed in November to global condemnation. Where “trade...
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