Category Archives: Economics

Reflexivity And Why The Fed Must Sell The Long End

The yield curve is flattening like a pancake.   Tightening cycles tend to do that. Furthermore, the effective float of 10-year and longer U.S. notes and bonds is relatively small and greatly distorts the bond market signal.   We have written … Continue reading

Posted in Bonds, Economics, Monetary Policy, Uncategorized | Tagged , , | 23 Comments

Of Course, There’s No Inflation. NOT!

Okay,  before the emails hit – it’s peak load pricing or a relative price increase. There, satisfied? Buyer pays $133K for two courtside tickets to Game 5 of NBA Finals A person paid $133,000, including fees, for two floor seats … Continue reading

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Chart and Quote of the Day: Death and Uncle Joe

One death is a tragedy; one million is a statistic.  — Joseph Stalin Man, our spending priorities are out of whack.   Connect the dots.

Posted in Economics, Uncategorized | Tagged , | 3 Comments

The World’s Fastest Growing Economies

We have updated with the latest 2017 estimates and 2018-22 average annual forecasts and ranked the world’s country 2017 GDP forecasts in the ginormous table below.  The data are from the April  2017 IMF’s World Economic Outlook.   A little bump … Continue reading

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QOTD: Inflation Cometh

The key takeaway from this morning’s punk GDP report: Meanwhile, Inflation advanced at a 2.4% annual pace in the first quarter, according to the personal-consumption expenditures, or PCE index. The PCE index–the preferred inflation gauge of the Federal Reserve–easily topped … Continue reading

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The Great Recession, Debt Growth, and Economic Policy

Look no further than the latest Flow of Funds data from the Federal Reserve Board to get a snapshot of what’s happened in the U.S. economy during the new millennium. Because “credit is the mother’s milk of the economy” let’s … Continue reading

Posted in Economics, Politics, Uncategorized | Tagged | 1 Comment

Bad Santa, Bad Globalization

Go no further than the following segment on Sunday’s 6o Minutes about imported labor to understand the creation of Trumpism and the mess we find ourselves in today.  UCSF, part of the University of California, the largest private employer in  … Continue reading

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COTD: Pity the I-Bankers and Lawyers

Can this be true?    Blue collar wages outpacing white collar over the past two years? Fake data?  Just yankin’ your Markov chain! “Though only a few industries accounted for much of the recent acceleration in AHE [average hourly earnings], it … Continue reading

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COTD: Size of U.S. Economy v Europe

Source:  Independent

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