"In practice, the opposite is happening..."

These speculative narratives are classic hallmarks of a mania: the story, not the data, becomes the primary driver of price...

"Criminals will continue to ignore the law, as they always have..."

"You will run out of fuel long before you will outrun us." 

The end-game of debt-debasement is already visible. The only thing that's still up in the air is our response...

This can't be good. 

In an age of rage, it is often difficult to stand out in the mob as so many pander to the perpetually irate...

...there is no respite to the sensory overload...

"KD was a disaster, with a miss-and-cut report, several mgmt. changes, and a delayed 10Q filing." 

...uncertainty expressed regarding future inflation outcomes - decreased

The question is whether the Clintons are again gaming the system after avoiding a bipartisan vote to hold them in contempt...

...our macro models suggest that equity valuations are higher than the macro backdrop would normally justify.

“what is left for the banks is small, and China doesn’t exactly set the Treasury market on fire at the monthly auctions.”

The pattern of freer trade for friends and restricted trade elsewhere is a template that is now being repeated globally as the world coalesces into interest blocs with geopolitical hedgerows erected in between...

"It's like watching a fatal car crash in slow motion..."