As forecast, now we have a recession on Main Street as well as a bear market on Wall Street. But what we don’t have yet is any sign of panic from the Fed
A Cold Day in Hell
Of particular interest to us here at the Letter is the coming train wreck…when two especially numbskull federal programs. One is making things — especially energy — more expensive by reducing supplies. The other is making them more expensive by increasing demand (in the form of fake money). What happens when they collide? The Fed […]
Sex, Lies, and Ticker Tapes
there’s always more to the story. Only part of it is ‘fit to print’. Any news item that interferes with the preferred narrative never makes it to prime time.
Midas Bound
Like a good watchdog, gold protects against thieves and natural calamities. It drives off consumer price inflation and barks when it sees your house on fire.
Mr Market Goes to Washington
Mr Market is doing what he always does. When things are too expensive, he marks them down. When they are too cheap, he bids them up. If there’s a shortage, he increases prices to bring forth more production.
Unstable Stability
There are rules. There are agreements. There are guarantees, promises, contracts, and treaties. But at the end of the day, links…like hearts…break.
Unstable Personalities
Stocks were green again yesterday…but the bounce faded far short of the 33,000 Dow half-way point. There’s probably more bounce left. As they say on Wall Street, even a dead cat bounces more than this.
The Courage Not to Act
Left alone, inflation will take care of itself. Mr Market will get the job done. The economy will go into recession. But will the Fed have the courage not to act?
Foolish Finance
Meanwhile, back in the world of finance and foolishness…everything has changed. Everything is different. It’s Mr Market who’s calling the shots now
Out of Time
Stocks wobbled on Friday, up…down…but ended the day with the Dow below 30,000. What will happen today? Tomorrow? We don’t know.
