Sudden Debt

The early part of the 20th Century saw the concurrent collapse of four empires and the rise of another to supersede them all. The British, C...

When the data changes faster than the scale which measures it, you get the chart below. Crashing through the floor, the real (inflation adju...

The University of Michigan publishes monthly surveys of year ahead inflation expectations. Right now, people think it will be at 5.4%, well ...

Just came across these charts from the   Michigan Survey of consumer sentiment .   I'm used to vertical take-off charts, but this is stu...

Risk premiums are a common way to assess where we are in the economic cycle or, more accurately, where the market thinks we are.  Premiums b...

It is rare to find "picture perfect" technical chart patterns, and I'm always suspicious of them when I do.  But, sometimes, a...

I know I sound like a broken record. But on the subject of the Fed and ECB as inflation fighters, I shall repeat my mantra: It's the QT,...

To paraphrase, nothing exceeds like excess.  In March 2020 the total market value of all cryptocurrencies was $141 billion.  Less than two y...

These are truly weird times. In fact, it is the only time in my memory that it makes more sense to pay attention to what people are saying ,...

 The Fed raised rates by 75 basis points yesterday (0.75%), and the media focused on it being the "biggest increase since 1994".  ...