Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
In the book Modern Money Theory by L. Randall Wray, the author declares of MMT (that is, Modern Monetary Theory) that it will go through three phases of public opinion.
First, it will be ridiculed. Second, it will be violently opposed. Third, and finally, it will be accepted as self-evident. I’m not sure if it will play out that way, but I’m here for offer an essay which is probably straddling the first and second phases.
Interestingly, this prediction was word for word what a certain Elizabeth Holmes declared in this video when she was making her final, desperate bid to save Theranos from its inevitable failure.
All right, it’s time for me to get serious about doing my MMT post, so I need to focus on that. Perhaps you wanted a market update of some kind, but honestly, not a thing has changed for me, except I’ve dropped my exposure a little bit (from 200% to 190%, still entirely short – – obviously). But I’ve said all I needed to say over the weekend, so it’s time to write.
I was terribly interested in this article posted over at ZeroHedge, which described at some length that, as obsessed as the media is with the inverted yield curve, there was actually a far more effective “predictor” of future economic ups and downs in the form of the “forward” 3 month rate.
I’ve done some digging, and I haven’t found it in SlopeCharts, but I did stumbled upon an interesting 5 year version of this, which effectively predicts forthcoming inflation rates. As you can plainly see, it went into an absolute free-fall during the 2008 financial crisis (symbol is FR:T5YIFR)
This entire trade war topic is beginning to resemble a tragicomedy.
Every weekday morning, I play a little mental game with myself in which I guess what the ES is going to be doing, or at least whether it’l be green or red. Even though the market instantly plunged 40 points when we opened Sunday afternoon, my guess was “green”, and there it was: