Main Street

The Mother Of All Irrational Exuberance

"... relative to today's casino madness and the Goldman fairy tale hockey stick, Alan Greenspan circa April 2000 looks like a model of sobriety by comparison. So if that was Irrational Exuberance back in April 2000, what we have now is surely the mother thereof..."

Mauldin: It's A Bonfire Of The Absurdities

"...there is a growing number of ridiculous, inane, and otherwise nonsensical absurdities that fill the daily economic headlines... I have gone from the occasional smile to scratching my head now and then to 'WTF' moments several times a week."

The Unbearable Slowness Of Fourth Turnings, Part 1

"Don’t think you can escape the Fourth Turning the way you might today distance yourself from news, national politics, or even taxes you don’t feel like paying. History warns that a Crisis will reshape the basic social and economic environment that you now take for granted. The Fourth Turning necessitates the death and rebirth of the social order..."

The Central Bank Bubble: How Will It Burst?

"If low interest rates and QE have been the lever pushing up prices of dividend and coupon-paying assets, central banks are the fulcrum... This fulcrum is slowly shifting..."

Osama Bin Laden’s Brother Arrested In Saudi Crackdown

Among the numerous high-profile figures arrested overnight in Saudi Arabia on “anti-corruption” charges, in addition to the shocking detenion of billionaire prince Alwalaleed bin-Talal, another unexpected name has emerged: that of Bakr bin Laden, chairman of Saudi Binladin Group and brother of Osama bin Laden.

BofA: The Liquidity Supernova Is Ending, "This Is The Biggest Risk of All"

$1.9 trillion of purchases by central banks thus far in 2017… helps explain lower yields & higher equities. But in 2018 the level of G4 central bank liquidity will peak at $15.3tn in March and the YoY growth of G4 central bank liquidity will decline in 2018 & will turn negative in Jan’19.

The Biggest Ponzi In Human History

"So no, there’s no way out. My best guess is the first country to deal with this in an aggressive manner will be the -relative- winner. All others are goners..."

What Could Pop The Everything Bubble?

Many observers wonder what, if anything, could pop the everything bubble. This leads to an interesting question: what problems can’t be solved by creating another trillion and buying assets?

Dow 500,000?

"The biggest secret in achieving long-term investment success is not necessarily being 'right' during the first half of the cycle, but by not being 'wrong' during the second half..."

Bank Of America: "This Could Send The Nasdaq To 10,000"

"Capitulation of bond bears would send 30-year Treasury yields toward 2%, the Nasdaq toward 10,000, and high yield & Emerging Market bond spreads 100bps tighter. The outperformance of “deflation” versus “inflation” could turn exponential..."