I realize that I have not written any notes since mid March - and I wanted to just give everyone an update on my brief hiatus from market commentary. Unfortunately, I needed to have two abdominal hernias surgically removed about a week ago. And naturally this has...
It was just about one year ago that the market was licking its wounds from a second China devaluation scare. Back then I was writing notes such as “The Chinese Monkey on Our Back” (11-Feb-16), “Detente Between the Fed and PBOC Makes Spoos and Blues the Winner”...
Based on rhetoric, it would be easy to claim that Trump’s foreign policy goal with respect to Europe is to encourage a breakdown. He has consistently praised the Brexit vote, explicitly stated that the EU is likely to fracture, and emphatically implied that the end of...
On Valentine's Day back in 2014, when we were in full Spoos & Q's mode, I penned the following poem: Roses are red Violets are blue Janet's a dove Buy more spoo Then on Valentine's Day in 2015, when we were loving the Dax & Dollar trade, I put...
“Stability leads to instability” is one of Hyman Minsky’s most famous quotes. And his theory that complacency and confidence sow the seeds of future economic crises has become almost universally accepted across academic, policy-making, and financial-market circles....
“Stability leads to instability” is one of Hyman Minsky’s most famous quotes. And his theory that complacency and confidence sow the seeds of future economic crises has become almost universally accepted across academic, policy-making, and financial-market circles. For Hyman, once concepts such as “The Great Moderation,” “Goldilocks,” “The Productivity Miracle,” “The New Normal,” or more […]
