Great Depression

The Echo Chamber Of Elite Economists: Often Wrong, Never In Doubt

Despite what appears to be an inflection point of radical change, most of which remains unknown, the consensus opinion of professional economists and markets, in general, are well-aligned, optimistic and seemingly convinced about how the economy and markets will evolve throughout the year.  The consensus forecast based upon an assessment of economic projections from major financial institutions appears to be the result of a Ph.D. echo chamber, not rigorous independent analysis.

What Do These CEOs Know That We Don't?

"...the people at the top of the corporate food chain who have privileged information about their businesses are NOT buying. As the Journal summarized, “These markets know no fear.” There’s an incredible amount of complacency despite obvious warning signs."

Goldman Downgrades Stocks One Day Before The Fed: "Asymmetry For Equities Is Getting Worse"

"With growth momentum nearing its peak and rates increasing further with a hawkish Fed, the asymmetry for equities is turning increasingly negative. This also means more vulnerability to potential shocks, e.g., from European politics, US policy, commodities and China. Given the asymmetry for equities is getting worse, we downgrade equities to Neutral for 3m."

When It Comes To Wall Street, Preet Bharara Is No Hero

The prominent U.S. attorney fired by Donald Trump this weekend has been justly acclaimed for his pursuit of political corruption. But his treatment of the Wall Street executives involved in the financial meltdown was far less confrontational.

The Uncivil War And What You Can Do About It

"Not to be overly dramatic, but a civil war has begun in America. Everyone knows it to be true, but no one knows what comes next. Given the country is so solidly divided, with zero chance of reconciliation, the democracy is effectively broken. As with the first US Civil War, wide schisms have formed that now separate families and friends. Schisms that will take years to heal, and maybe never."

A Look Back At 1999!

"If this market rally seems eerily familiar, it’s because it is. In fact, the backdrop of the rally reminds me much of what was happening in 1999...If you were around then, you will remember."

America's Miserable 21st Century

The Great American Escalator is broken - and it badly needs to be fixed. With the election of 2016, Americans within the bubble finally learned that the 21st century has gotten off to a very bad start in America. Welcome to the reality. We have a lot of work to do together to turn this around.

Of Bread And Circuses

"A twentieth-century repetition of the mistakes of ancient Rome would be inexcusable... no society is ever murdered - it commits suicide... I am no prophet of inevitable doom. On the contrary, I am sounding an alarm that disaster lies ahead unless present danger signals are heeded."