Zeal: Stock-Bull Topping

The US stock markets’ Fed-driven melt-up has accelerated again in recent weeks, with a string of new nominal record highs.   This has reignited truly extraordinary levels of greed, euphoria, and […]

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Something Wicked This Way Comes

The current crazy/frustrating/scary/pick-your-expletive level of instability in today’s market is actually GOOD news. The disconnect between financial asset prices and fundamentals simply must — per the laws of Nature — […]

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Economic Outlook Darkens

After six years of monetary and tax policies that could have not been better designed to destroy savings and the savings ethic, you’d think governments might have learned some sort […]

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