Monetary

This Stock Market Boom is Different

Executive Summary This stock market boom is different. It is founded not on the growth of prosperity but on sustained and growing monetary repression finding expression so far in a trend rise of ‘hedge premiums’.   These, in turn, have fed the frenzy of ‘there is no alternative’ (TINA).   Pandemic stock speculation and monopoly profits have …

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MARKETS LOOK BEYOND THE ARMED TRUCE TO PEACE: How Pandemic has changed the currency outlook

Executive Summary   Main Article Big government wages economic equivalent of world war   Armed truces, new enemy offensives and the final peace   Pandemic and war test liberty and democracy   Optimism in market-;ace about truce and peace   Wall Street celebrates war profits and monopoly power   Lessons for currencies during World War …

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Disinflation, Fang + and Gold: nothing new in how this asset inflation will end

Executive Summary Examining for forces of disinflation is crucial to determining how and when the present long monetary inflation will run into asset deflation and recession; and whether a great goods and services inflation will ultimately emerge.   A study of nineteenth century US history and Dutch 17th century history provides some insights into this …

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New Decade: new inflation challenges

Executive Summary Symptoms of monetary inflation – both in goods and asset markets – are becoming more serious, as we enter the 2020s. There are no grounds for complacency, based on narratives spun by central bankers or by finance professionals.    The central bankers tell us (via their giant propaganda machines) that they have everything …

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The menace of high US inflation: despite monetary regime dysfunction, Milton Friedman’s diagnosis still holds

Executive Summary Fed Chief Powell is hinting at tolerance of somewhat higher inflation in 2020, as justified by inflation undershooting its target, previously. Reported inflation may well rise early next year and beyond until further growth cycle slowdown sets in, and recessionary forces strengthen. Before that, any growth cycle upturn would mean heightened menace of …

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GBP leap on unwind of no deal hedges now vulnerable to UK-EU FTA reality show: CAN$ election-time spurt also transitory

Executive Summary The seven per cent jump of the pound in a few days, based on a sudden violent change in hedging positions, is not without precedent.  The key question is whether fundamental forces have changed in a way likely to ratify that movement.   In the case of the pound today, the answer here is …

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