My latest musical obsession – – a penultimate version of one of the great musical sequences ever recorded:
The darlings at the Federal Reserve did, for a little while, attempt a feeble effort at “normalization” by selling off some of their trillions of dollars of assets, but of course the weak-willed and utterly amoral Jerome Powell abandoned that effort. Take careful note of this chart. As you can see, the assets held will soon cross into new record territory.(more…)
If I may pat myself on the back, my identification of the trendline touch for KBE was spot-on. Score 1 point for the pure bearish spirit, and negative 1 for the hideous ogre Abby Joseph Cohen, the Medusa of the modern age.
As I stand here in the wake of the explosive news about AAPL and the virus, we have IWM up 0.03%. So, yeah, quite the panic out there. But let’s catch up, in broad terms, with my “bearish equities, bullish bonds, bullish golds” triumvirate, by way of the brave of the the U.S.S. Enterprise (1966 edition). We begin with equities, the James Kirk of the trio.(more…)
I’d like to share four charts to make a general point………(more…)
Well, it makes complete sense that in this fraudulent, distorted, criminal market of ours, Apple would decide to make one of the most important announcements of the year on a major federal holiday when everyone is away from their computers. They are withdrawing revenue guidance. The NQ isn’t liking it.(more…)
I’ve been pleasantly surprised that some of my most popular posts are excerpts from the only history book I ever wrote, Panic, Prosperity, and Progress. Over this holiday weekend, I’ll be sharing, over the course of four days, the chapter dedicated to the inflation and bursting of the Japanese bubble of the 1980s. I think you’ll find some interesting parallels with China. You can read the first part here, part two is here, and part three is here.
Equities in Japan peaked on the last trading day of the year in 1989. The Nikkei ended the year with a crescendo, and the majority of market observers agreed that the market was not overvalued. There was no reason they should not have expected 1990 to bring in more profits, since the trend has been so strong, so persistent, and so long-lived.(more…)