A sharp decline in the relative value of the dollar this year has been met with cheers from those hoping for a short-term boost to the US economy, and with hand-wringing by those worried about the currency’s global standing. But while both views reflect...
The brutal reality of slowdown is becoming clearer. Surveys predict 1/3 of UK companies are going to announce layoffs and zero wage rises. Unemployment remains stubbornly high in Europe. Despite the US adding jobs it’s still well below the long-term trend....
Two of the questions I get most often these days are, “What kind of cycle are we in?” and “Where do we stand in it?” My main response is that the developments of the last five months are non-cyclical in nature, and thus not subject to the usual cycle analysis. The...
The reliance on “good news” narratives dooms our financial system and economy to a death spiral once reality breaks through the induced euphoria. “Markets” that never go down aren’t markets, they’re signaling mechanisms of the...
There remains an ongoing bullish bias that continues to support the market near-term. Bull markets built on “momentum” are very hard to kill. Warning signs can last longer than logic would predict. The risk comes when investors begin to “discount” the warnings and...