Author Archives

• TSP Smart: Doug Noland’s Full Capitulation

  By Doug Noland on April 20, 2019

  

  The fact that Fed President chose the Fed’s 1998 response to talk about is chilling. And why mention Autumn of 2020 as the length of time to keep “inflation” running high… what inflation is he talking about? Is he saying “Mr. President, we will keep the stock market bubble inflating until the election”? Absolutely. Why? So the Fed can stay “independent”.

• Doug Noland: The Perils of Stop and Go

  By Doug Noland on April 13, 2019

  

  As we are witnessing again in early-2019, when “risk on” is inciting leveraged speculation markets create their own self-reinforcing liquidity. It is when “risk off” de-risking/deleveraging takes hold that illiquidity quickly reemerges as a serious issue. And I would argue that it is the inescapable predicament of speculative Bubbles that they create ever-increasing vulnerability to downside reversals, illiquidity, dislocation and panic. 

• Doug Noland: Everything Rally

  By Doug Noland on March 30, 2019

  

  While risk market participants fixate on capturing unbridled short-terms speculative returns, the safe havens see the inevitability of market dislocation, bursting Bubbles and ever more central bank monetary stimulus.