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Election Night Special

Investors of all stripes are trying to handicap the outcome of the US presidential election, now only 35 days away.  Every day we are bombarded with articles advising us how to prepare for a potential Biden presidency, protect portfolios in… Read More »Election Night Special

Our Bubble World

Our Bubble World

The Great Disconnect continues, thanks to the US Federal Reserve and their global central bank cohorts. Covid-19 has proven to be a tenacious adversary, creating financial and social upheaval across the world. The job market continues to be stuck, with… Read More »Our Bubble World

Money For Nothing

Summer was supposed to be the season that helped deliver a knock-out blow to covid-19, and pave the way to returning the economy, and people’s lives, to normal. Instead, we are faced with not just a surge in new cases,… Read More »Money For Nothing

Man sick in bed


The coronavirus is proving to be a tenacious adversary for our health and society. The sense of victory felt due to the flattening of the infection curves around the world and the optimism accompanying the efforts to reopen economies have… Read More »Relapse

Bridge to the Future

Bridge to the Future

Words are woefully inadequate to describe the coronavirus earthquake which has tilted the earth on its axis. Coronavirus has created a rare demand and supply side shock, and the widespread shutdown efforts globally have created the first recession by government… Read More »Bridge to the Future

Happy Hour

William McChesney Martin was one of the longest-serving Chairman of the US Federal Reserve, serving from 1951 to 1970.  The Fed got a lot less attention then than it does now, but Martin put his stamp on Fed history by… Read More »Happy Hour

Demon of Our Own Design

A Demon of Our Own Design

The world’s central banks are running scared.  Their attempts to reduce artificial liquidity provision to the financial systems have run into the twin roadblocks of the trade war induced global slowdown, and a freeze-up in the short-term funding markets.  Far… Read More »A Demon of Our Own Design