Knowing the Unknowable; Reflections on the Fed Hike
In the past week, two readers, one of them a blogger, professed to "know" something that cannot possibly be known."Epocalypse" NowThe first person, an economic...
Author : Mish Global Economic Trend Analysis
Empire State Manufacturing Contracts Fifth Month, Employment and Workweek Worst Since 2009
Empire State Manufacturing Employment and Workweek Worst Since 2009As expected, the Empire State Manufacturing Index is is contraction for the fifth consecutive month. employment and...
Fed Openly Discusses “Permanently High Balance Sheet”
Merits of Not Shrinking the BalloonWhen the Fed first launched QE, the Fed stated it had the "tools" necessary to shrink its ballooning balance sheet....
Trump Warns “Dopey” Saudi Prince “Can’t Buy US Politicians When I Get Elected”; Religious Discrimination of Saudi Prince vs. Trump
Entertainment ValueRegardless of your other opinions on Donald Trump, he is good for at least one thing in what would otherwise be a rather boring...
High Anxiety Liquidity Trap: Selloff in Junk Continues, Follows Largest Drop Since 2011 on Friday
In financial markets rot starts at the periphery and spreads to the core. For weeks, rot has been visible in the junk bond market and...
“War Games” Show Fed Worried About Commercial Real Estate, Interest Rates; Fed Weighs Consequences of “Macroprudential Tools”
War GamesInquiring minds may wish to take a peek inside a Fed ‘War Games’ Exercise conducted this past summer, just recently reported on by the...
Le Pen Fizzles in Second Round
French exit polls show Marine Le Pen's National Front Behind in Local Elections, so much so that Le Pen may not even win her own...
Reader, Citing Hayek, Asks Me to Reconsider My Stance Against Finland’s Free Money Proposal
On December 7, I strongly criticized Finland's decision to give every citizen $870 each month, tax free.For an outline of the proposed deal, and my...
Back in the Saddle, Just in the Nick of Time
For those looking for a bit of humor this weekend, here's an article for the "just in the nick of time" bucket.Back in the SaddleBloomberg...
Stocks More Overvalued Now Than 2000 and 2007 No Matter How You Look at Things
Overvalued No Matter How You LookCurrently, stocks are extremely overvalued by multiple methods.The first way is by looking at Cyclically Adjusted P/E Ratios commonly known...