Outside the Box: The Cult of Central Banking

Outside the Box: The Cult of Central Banking

In today’s Outside the Box, good friend Ben Hunt informs us that we have entered the cult phase of the Golden Age of the Central Banker: We pray for extraordinary monetary policy accommodation as a sign of our Central Bankers’ love, not because we think the policy...
What Earnings Season Will Tell Us About Oil Prices

What Earnings Season Will Tell Us About Oil Prices

Although many energy stocks are starting to stabilize, oil has yet to find a bottom and base. Most analysts agree that, in the short run, oil prices may go lower. However, longer-term demand increases and cuts in capital spending and production will eventually cut...
Bear Market Lessons from History

Bear Market Lessons from History

While the financial media is absolutely infatuated with stocks hitting new highs everyday, we would do well to pay attention to some ongoing bear markets: 1) Japanese stocks continue to languish under the effects of deflation following a well over 26 year old bear...
Is Gold Pro-Cyclical Or Anti-Cyclical?

Is Gold Pro-Cyclical Or Anti-Cyclical?

There are no two identical business cycles. Their courses depend on the many independent actions of market participants. Also, each time money flows and spreads out differently in the economy, affecting distinct prices in various ways. However, according to a general...
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