Recent Posts - page 24

  • Most Disappointing Recession Ever

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    I believe the world is transitioning to a new cycle. Expectations that inflation conveniently returns to previous cycle dynamics is wishful thinking. Hopes that central bankers can quickly conclude tightening cycles without the need to inflict pain are unrealistic.

  • Monetary Inflation Run Amok

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    Markets Friday didn’t quite know how to react to the stunning news. Masayoshi Amamiya, governor Kuroda’s right-hand man and heir apparent, is said to have turned down the job. Can you blame him?

  • Powell is No Volcker

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    Powell Wednesday needed to push back firmly against speculative markets, against the legacies of Greenspan and Bernanke. After printing $5 TN, he should have demonstrated a modicum of policy symmetry by at least leaning against the “echo Bubble.” It was astonishing to see Powell instead throw fuel on a major short squeeze and dangerous market instability.