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May 2011



Debt Ceiling Dynamics

May 19, 2011 – Comments (6)

Interesting thoughts  [more]



Inflation and Asset Price Responses, and the (Non)Correlation to the Central Bank Policy Stance

May 16, 2011 – Comments (11)

I was asked recently to reconcile my position that Quantitative Easing (or similar activity) is not inflationary. Especially when viewed against a ten-year chart of virtually any commodity denominated in US Dollars.  [more]



Solar System Scope

May 13, 2011 – Comments (12)

This is awesome!  [more]



A Quality CDO Analogy From Matt Taibbi

May 13, 2011 – Comments (7)

I think this is right on.  [more]



QE2 and "Money Printing"

May 12, 2011 – Comments (15)

My position has been (contrary to many other published thoughts) that QE was not in fact "money printing" in the sense of how it is normally defined, which goes like: the Fed printed billions of dollars out of nowhere and exploded the monetary base and that this added a slew of new dollars to the system and is therefore inevitably inflationary.  [more]




May 05, 2011 – Comments (18)

As I have said many times (ad naseum in fact), I hate talking about Gold when it is a hot topic on the breakout. When it is breaking out with huge momentum it conjures up all kinds of debates / advice / pronostications / arguments / name-calling , etc. Gold is emotional and when Gold gets frothy, all kinds of crazy emotions pop up. I have stated exactly this same sentiment in my last few posts on Gold.  [more]



The ISM and Overly Optimistic Analysts

May 04, 2011 – Comments (0)

I tend to file this one under "analysts are becoming overly optimistic again". For the last two years (with the exception of the last two quarters) we have consistently seen analysts underestimating growth in manufacturing indices, corporate revenues, corporate profits, etc. Which is what we expect to see in bull markets (which is what I think we are in. I didn't appreciate that fact before, but I changed my tune on that several months ago). I personally don't think this cyclical bull market is done, and I think it likely has a few years left in it.  [more]

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