Bernie Sanders Hasn’t Quite Captured What Wall Street Does: It’s Actually a Fraud-Monetization System with a Money-Printing Unit Called the New York Fed

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Bernie Sanders Hasn’t Quite Captured What Wall Street Does: It’s Actually a Fraud-Monetization System with a Money-Printing Unit Called the New York Fed By Pam Martens and Russ Martens: January 21, 2020 ~ Senator Bernie Sanders has come closer than anyone on the Presidential campaign trail in defining what Wall Street actually does. Sanders has… Read More

New Respiratory Illness Saps Risk-Taking Appetites

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Overview:  The spread of a new respiratory illness in China has spurred a wave of profit-taking in equities and risk assets more generally.  All of the markets in the Asia Pacific region tumbled, with Hong Kong hit the hardest (-2.8%) after posting a key reversal yesterday.  The sell-off continued in Europe.  The Dow Jones Stoxx… Read More

Cash on the Sidelines

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Photo Credit: theblackdog2071 || Remember, if some from the sidelines come onto the field, an equal number of others have to leave. Anytime you hear a bull or bear argument about cash on the sidelines, understand that it is bogus. Ordinary trading does not add or subtract cash on the sidelines, excluding commissions. If bulls… Read More

Stocks Stall while the Dollar Remains Bid

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Overview: The new week is off to a quiet start as the US celebrates Martin Luther King’s birthday, and investors look for a fresh focus. Hong Kong and Indian markets were suffered modest declines while most of the other large Asia Pacific markets edged higher. European stocks are trading a little lower, and the Dow Jones… Read More

Central Bank Meetings Featured

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unique potential

The US dominated the news stream at the start of 2020.  The spasm in the US-Iran confrontation has quickly subsided.  The much-heralded US-China Phase 1 trade deal has been signed.  The US has completed the ratification process of the US Mexico Canada Free-Trade Agreement.  The early signs from the economic entrails suggest the world’s largest… Read More

Praise for The Moneyist

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Picture Credit: || Quentin Fottrell takes your questions and answers them… we sometimes do that at Aleph Blog I sometimes read c as he answers tough reader questions at The Moneyist, a column at In general, I agree with what he advises 90% of the time, and think he does it in an… Read More

China Enters 2020 Still (Intent On) Managing Its Decline

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Chinese Industrial Production accelerated further in December 2019, rising 6.9% year-over-year according to today’s estimates from China’s National Bureau of Statistics (NBS). That was a full percentage point above consensus. IP had bottomed out right in August at a record low 4.4%, and then, just as this wave of renewed optimism swept the world, it… Read More

Neither US Retail Nor Industry Ended 2019 In A Good Place

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US retail sales were disappointing in December 2019, though it depends upon your perspective for what that means. Unadjusted, total retail sales were 6.01% more last month than the same month of the prior year. It was the highest year-over-year growth rate since October 2018. The reason was entirely due to base effects. You might… Read More

China and the UK Surprise in Opposite Directions

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Overview:  Helped by new record highs in the US, global stocks are moving higher today.  Nearly all the markets in the Asia Pacific region advanced and the seventh consecutive weekly rally is the longest in a couple of years.    Europe’s Dow Jones Stoxx 600 is at new record highs and appears set to take… Read More

Age-Invariant Asset Allocation

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Photo Credit: Free Fergerson || Old & Young — we’re all human It is often said that young people should invest more in stocks because they have more time to bounce back from bad market environments, and so they should take more risk. There is some merit to that argument. But young people don’t have… Read More

Germany, Maybe Europe: No Signs Of The Bottom

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For anyone thinking the global economy is turning around, it’s not the kind of thing you want to hear. Germany has been Ground Zero for this globally synchronized downturn. That’s where it began, meaning first showed up, all the way back at the start of 2018. Ever since, the German economy has been pulling Europe… Read More

Why So Much Fuss Over SOFR?

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More than two years into the SOFR regime, it’s not really going all that well. Adoption remains, shall we say, questionable and uncertain even though, everyone says, LIBOR is on its way out and the Secured Overnight Financing Rate is the future. Jumbled together by the Fed’s New York branch, the latter is, we are… Read More

A World Gone Mad

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dr chart 01 16 20 wheres the crisis

This post A World Gone Mad appeared first on Daily Reckoning. Today we gasp, stagger, reel. The enormity of it all has finally overmatched our capacities. Consider… Total global debt presently piles up to 322% of GDP — a record. Total “developed world” debt piles higher yet — 383% of GDP — another record. The… Read More