New Normal

Global Stocks Rise Oblivious Of Growing Geopol Risks; Oil, Commodities Jump On Kurdish Clashes

World stocks and commodities rose on Monday, boosted by upbeat Chinese data, while U.S. oil futures jumped to a near six-month high as escalating tensions between the Iraqi government and Kurdish forces threatened supply.  Global markets digested the large amount of weekend newsflow, and clearly liked what they saw as S&P futures were modestly in the green, as both European and Asian stocks are higher.

Hedge Fund CIO: "Never In Human History Have So Many Things That Weigh Nothing Had So Much Value"

Never in human history have so many things that weigh nothing had so much value, fueled such vast fortunes. Data weighs nothing. Knowledge weighs nothing. Software weighs nothing. Algorithms weigh nothing. And as the singularity approaches - that point when artificial intelligence surpasses all human intelligence - we struggle to fathom its infinite weight, uncertainty.

Minsky, Myopia, & Why The S&P 500 Is A Bloated Corpse

"Natural bodies can tend towards equilibrium, i.e. death. Markets cannot. They’re doomed to flatline, and then to always come back from near death experiences. They tend to do so in violent ways though. When volatility at last returns, so will price discovery. It won’t be pretty."

Flatliners - Dead Market Walking

"...all risk has been flat-lined in this grand central bank experiment...  but any trader staring at the tape knows that we find ourselves in the most compressed price environment in history. This is not normal, there’s no heartbeat..."

Dollar Surge Continues Ahead Of Jobs Report; Europe Dips As Catalan Fears Return

World stocks eased back from record highs and fell for the first time in eight days, as jitters about Catalonia’s independence push returned while bets on higher U.S. interest rates sent the dollar to its highest since mid August; S&P 500 futures were modestly in the red ahead of hurricane-distorted nonfarm payrolls data

Howard Marks Warns "Nobody Knows What Will Happen"

"Maybe that’s what people are thinking in today’s stock market: 'It will continue to go up, but I will get out in time'... People overestimate their ability to get out in time. Who will be there to buy when everyone wants to sell? That’s wishful thinking."

Stagnation Is Not Just The New Normal - It's Official Policy

"Although our leadership is too polite to say it out loud, they've embraced stagnation as the new quasi-official policy. The reason is tragi-comically obvious: any real reform would threaten the income streams gushing into untouchably powerful self-serving elites and fiefdoms."

Bill Blain: "Oil Could Change Everything"

"As a story, oil has further to run. The issue for markets is how dramatically will higher oil prices impact inflationary expectations in the current rosy Macro world-view? That could solve the lack of inflation at a stroke – but probably push stressed full employment economies like the UK into stagflation."

The World Is Creeping Toward De-Dollarization

"The process of moving away from the dollar - prepared by Europe and triggered by China and Russia - can no longer be stopped... And as a 'supra-national' reserve asset, gold plays an important role in it."

S&P On The Verge Of History

U.S. stocks have risen more in the past eight years than in almost any other post-World War II time of economic growth...

Norway’s Big Fish Story

The greatest consequences of Nordic socialism are how it instills a lack of courage and imagination when facing global problems. For such a system to work, people must be mostly compliant and amicable. Currently, Norway can manage the economic shift by drawing from The Fund but I would hope that they want to do more than just get by. It is obvious that betting on fish is a bad idea.