Tuesday , June 2 2020
Home / Tag Archives: Stocks

Tag Archives: Stocks

What Flood?

Another 2.1 million Americans have filed this week with their state governments in order to determine their eligibility for unemployment insurance. That brings the 10-week disaster total for these initial jobless claims to an enormous 40.8 million. How did it get to be so many, and why, as states are opening back up, is it continuing in the millions all the way through the month of May?This is not simply a case of disease and the panicked government response to really, really bad virus...

Read More »

The *Optimists* Have Some Terrible News For the ‘V’

It has to be a combination of confirmation bias and rationalizations. Not even the official story finishes up with the fairy tale ending. The “V” people seem to be ignoring what the most optimistic group is actually saying. And these optimists absolutely want it to be that way.It bears repeating the “V” case; that once the non-economic shutdowns are lifted, vaccine or not, the world goes right back to work as if nothing happened. No lingering damage, not even the slightest hint of long run...

Read More »

Eurodollar University’s Making Sense; Episode 10: *The* Illusion

iTunes: https://apple.co/3czMcWN Spotify: https://spoti.fi/3arP8mY Google: https://shorturl.at/fpsEJ Alhambra-tube: https://youtu.be/P7Wx7AYFDsQ Twitter: https://twitter.com/JeffSnider_AIP Twitter: https://twitter.com/EmilKalinowski Art: https://davidparkins.com/ [Emil’s Summary] Then: a man or a woman who is a medium or a wizard was ascribed powers of enchantment and the supernatural. Now: a monetary technocrat is imbued with necromancy, conjuring money out of thin air and...

Read More »

Beware of Accepted Wisdom

Most everyone has heard of the Chinese proverb – or curse – that wishes one to live in “interesting times”. You’ve probably also heard that in Chinese the word “crisis” is composed of two symbols, one that denotes “danger” and another that means “opportunity”. Well we certainly live in interesting times and there is indeed a crisis. We won’t know if it was an opportunity until sometime in the future but if the stock market is any indication there are certainly a lot of folks who see it that...

Read More »

Stocks Haven’t Been Moneyed

Why didn’t 1987 turn out to be 1929 redux? Alan Greenspan was deathly afraid this would be the case, and in turn he made everyone else unnecessarily upset along the same lines. Especially Congress. The fact that both stock market crashes occurred during the month of October, though, actually ends the similarities. That plus clueless Federal Reserve officials.Why the one was and the other wasn’t is a matter of money; thus, the confused personnel of the central bank. If there’s one thing...

Read More »

Market vs Economy: A Time Mismatch

“Intelligence is the ability to adapt to change.” Stephen Hawking   The economic news over the last month has been as awful as anyone alive has ever seen. Unemployment has risen from 3.5% to 14.7% since February with nearly 15 million Americans filing for jobless benefits in the last month alone. The CFNAI hit its third-worst reading ever and that was for March so a new record is likely (interestingly, the worst reading ever was in 1974; the 70s really were pretty awful). Factory orders,...

Read More »

7/5/20: No Value in Them, Stonks

No, folks, the markets are still not in line with fundamentals: And that applies to all three sets of fundamentals: pre-COVID19 conditions in the underlying economy (secular stagnation), during-COVID19 collapse of the economy, and post-COVID19 expectations for the economy.Which, of course, explains why Buffett sees no opportunities for buying, given the above chart is one of his favourite indicators of value.

Read More »

Eurodollar University’s Making Sense; Episode 6: Shocking (to some) Fragility

iTunes: https://apple.co/3czMcWN Google-cast: https://shorturl.at/fpsEJ Spotify: https://spoti.fi/3arP8mY   Alhambra-tube: below   SUMMARY  Hubris. It will get us to the stars but seduce us into believing we belong there. Today, monetary authorities suffer it, believing they can manage the nonlinearity, emergence, spontaneous order, adaptation and feedback loops of the unraveling. DESCRIPTION In 1929 a plague struck Florida resulting in an overwhelming government response. The...

Read More »