Archive for the 'Politics' Category

Mystery of Low Inflation? Nonsense

Wednesday, May 22nd, 2019

In the aftermath of the Great Financial Crisis in 2008 which brought money markets to a standstill, central banks embarked on a voyage of discovery with a series of formerly unorthodox actions.  Zero Interest Rate Policy (ZIRP), in which central banks pegged the short term interest rates under their control at zero or below.  Quantitative […]

The Recipe for the Global Synchronized Recovery

Thursday, March 22nd, 2018

Is more like the recipe for cotton candy than for say a pot roast.  Delicate and prone to collapse at the first sign of stress, the first whisp of breath on it.  Put it in your mouth and it just melts away.  As opposed to a pot roast with vegetables, hearty and hale, and leaves […]

The Hue and Cry Over Facebook

Monday, March 19th, 2018

Facebook stock got whacked today over revelations that 50 million people had their data appropriated by an outside group.  This just adds to the wailing and gnashing of teeth over Facebook’s role over the results of the 2016 election in which the dastardly Russians supposedly used Facebook to spread lies and misinformation that may have […]

Amazon: The Mercantilist In Our Midst

Thursday, February 1st, 2018

OK.  Mercantilist is probably not the right analog, but it does share some elements of what is occurring in the world as shaped by Amazon.  Mercantilism is a State policy and Amazon is not a State…yet.  Mercantilist states seek to accumulate specie through positive policies enabling foreign trade, or at the very least substantial market […]

One Number To Rule Them All

Thursday, January 25th, 2018

There is one number that will determine the fate of the world and its financial markets.  In the United States, that number is the Core PCE inflation number, or at least expectations of what that number might be in the future.  This number or its expectations will determine the posture of the Fed.  Analogous numbers […]

Price Protection Group

Tuesday, May 23rd, 2017

Asher Edelman had an astonishing interview on CNBC Fast Money this afternoon.  In it he claimed that Reagan’s Executive Order 12631 which established the Working Group on Financial Markets resulted in the fabled Plunge Protection Team which he called the Plunge Protection Group, reporting only to the President.  Comprised of the heads of the SEC, […]

Yellen Gleefully Endorses Wildly Elevated Stock Prices and Wildly Accommodative Monetary Policy

Wednesday, March 15th, 2017

In discussing the neutral level of the Federal Funds Rate after today’s Federal Open Market Committee meeting, Janet Yellen returned to her oft stated idea that there is research indicating that the neutral level of Fed Funds is 0% in real terms.  So if the Fed’s preferred level of inflation, PCE is at, lets say, […]

A Note On NBC Meet The Press, The “Press” and Trumps Russia Non-Problem

Sunday, February 26th, 2017

Chuck Todd continues his aggressive pursuit of the Russia Scandal which in essence is a Democratic hope that Trump worked with Russia and Putin to subvert the democratic process in the US in 2016.  But that is really just to say that he enlisted the aid of foreigners in politics.  For what is politics?  It […]

Two Complaints About the Stupid Party – Embracing Stock Highs and Obamacare

Friday, February 24th, 2017

First, yesterday the new Treasury Secretary, Steve Mnuchin, whose name looks suspiciously like munchkin, when asked by CNBCs Becky Quick whether the Trump Administration sees the stock market as a scorecard he replied “Absolutely” – “this is mark to market”.  Oops.  Now aside from the fact that he used the should-be-banned word absolutely, this was […]

What Was Once Taboo Is Now Policy De Rigueur

Wednesday, February 15th, 2017

There was a time back in Donald Trumps cherished clean American past when representatives of our government would go out of their way to distance themselves from any notion that anything they do is intended to affect markets directly.  It was considered bad form to interfere with markets as we considered our nation the worlds […]

The Kerfuffle Over Trump’s Business and Emoluments

Wednesday, January 11th, 2017

With inauguration day approaching, much is being made of the potential conflicts of interest surrounding Donald Trump’s business interests.  Trump haters are on the lookout to make sure that Trump does not enrich himself by virtue of achieving the highest political office in the land.  Trump lovers should also be wary.  I just watched an […]

Clinton Is Pulling Out All Stops Behind The Scenes

Wednesday, November 9th, 2016

Podesta just came out and said “lets get those votes counted and bring this home”.  What that means is that the Bill and Hill Kill Squad is out where votes have yet to be counted banging some heads making sure that the last states come out her way.  Do you think they are politely asking […]

Is Politico Owned By Facebook?

Tuesday, October 25th, 2016

Occasionally I see a story at Politico on which  I would like to comment.  Like the recent one in which the Clinton aide Sheryl Mills, who of course was granted immunity by the compromised and corrupt or clueless FBI, in which she realizes they need to cover up contacts between Obama and Clinton through her […]

US Government Interferes Directly In US Election

Thursday, October 20th, 2016

It is one thing for privately owned companies to do things that influence the election, like Google altering its search results to favor one candidate or the the other, or Facebook, altering its news feed for the same purpose, but it is entirely another thing for the sitting administration of Barack Hussein Obama to exercise […]

Why Hillary Clinton’s Email Fiasco Makes Her Unfit For Office

Monday, October 17th, 2016

Never mind that Killary has already her 3AM wakeup call and failed it miserably when she was begged for security by her Ambassador in Benghazi and failed to provide it.  What makes Hillary unfit is her demonstrated lack of judgment regarding the communication setup while she was Secretary of State.  Consider for moment what the […]

Trump Sex Scandal Has All The Earmarks Of A CIA or NSA Op

Sunday, October 16th, 2016

It suddenly struck me today watching the hysterical main stream media harping on the unsubstantiated claims of Trumps sexual abuse of nearly ten woman (MSM shill Chuck Todd – who is having too much fun destroying Trump with that shit eating grin – on NBC’s Meet The Press today insisted repeatedly to Mike Pence that […]

The Tragedy of Linear Thinking at the Fed

Monday, September 12th, 2016

Recently some commentators (Blu Putnam at CME and Mike Shedlock at Mish) have started using a couple of words I have been thinking for a long time with respect to our economic overlords at the Fed. Those two words are linear thinking. I am surprised that for such supposedly smart people – I mean they […]

Queen Hillary Is Not A Subject of the Same Law As Mere Mortals

Tuesday, July 5th, 2016

There are really only three questions in response to James Comeys abdication of his duty in exonerating Our Majestic Queen Hillary the Corrupt in todays farcical outcome of the long investigation into her clearly criminal mishandling of sensitive national security information that has now fallen into the hands of foreign powers who will now be […]

Yellen Suggests Equilibrium Real Rate for Overnight Money is Zero

Thursday, June 16th, 2016

The most interesting tidbit to me in Janet Yellen’s post-FOMC press conference yesterday was when she was discussing the neutral real rate of interest (net of inflation) for an American economy running at trend growth near full employment.  She cited that there is some research that suggests that that rate is now zero percent.  Now […]

Summing Up the State of US Politics

Tuesday, April 5th, 2016

I am not a huge fan of Breaking Benjamin, though I like their music.  I had this song in my head and searched it on You Tube, Angels Fall.  It is about a family that lost their lives in a boating accident apparently.  The YouTube analytical engine then cued up another song, as it does, […]