150.1 Huge 1950s CPI-Surge was Transitory, Not Inflation ———Ep 150.1 Summary———An early-1950s US consumer buying-binge sent the Consumer
1 min read
Almost all the economic data released last week was better than expected. ISM manufacturing PMI, Redbook retail sales, ISM non-manufacturing PMI (an
1 min read
A couple of weeks ago the 10-year Treasury note yield rose 16 basis points in the course of 5 trading days. That move was driven by near-term
1 min read
136.3 1970s Inflation Then, But Not Now Because… ———Ep 136.3 Summary———A review of transcripts and recordings from the 1970s reveals
7 min read
Last week I was contacted by two clients seeking information about cryptocurrencies. One was my godson, 12 years old and just getting started in
1 min read
67.3 There are 6 (to 20?!) Liens on each US Treasury———Part 3 Summary———US Treasury Securities are the financial system’s best
1 min read
67.2 When is government debt too much debt?———Part 2 Summary———When public debt rises to around 90% of GDP economic growth falls by 1%
1 min read
67.1 US Stimulus Fails: Bush, Obama, Trump (& Biden?!)———Part 1 Summary———Government stimulus seems to work sometimes (e.g. US
11 min read
April 15th was the two-week anniversary of the day my wife and I got our second Moderna shot. We have spent the last 13 months being very careful
1 min read
66.0: LIVE! Reaction: Answering The St. Louis Fed ———Ep 66 Intro———In 2014 the St. Louis Federal Reserve noted that despite a MASSIVE
1 min read
65.3 Did Death come for US Treasuries on February 25th?———Part 3 Summary———On February 23rd the US Treasury 2-year auction put in some
1 min read
65.2 The Fed is right about inflation (this time)———Part 2 Summary———US producer prices surged in the month of March. But Federal Reserve
1 min read
65.1 This is what caused the 1970s Dollar Devaluation———Part 1 Summary———US President Jimmy Carter told the nation that the US dollar’s
6 min read
One of the most common complaints I hear about the markets is that they are “divorced from reality”, that they aren’t acting as the current
6 min read
One of the most common complaints I hear about the markets is that they are “divorced from reality”, that they aren’t acting as the current