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Daily commentary and chart of the day: More on narrowing market leadership
Last week, I wrote a bit more on my prediction of margin compression in the US and how Apple fits in the weekly newsletter. This story in today's links from the Washington Post was really good on that with regard to Apple.
Five Overlooked Euro Zone Developments
There are several developments that warn of future problems in the euro zone and these make us suspicious about the euro's ability to sustain the upside break.
A Primer on Minsky
Minsky's “Financial Instability Hypothesis” is one of the key foundations of Steve Keen's approach to economics. Minsky has come into vogue these days of course, but to people who’ve known his work for several decades rather than ever since…
The JOBS Act will create an extraordinarily criminogenic environment
The JOBS Act is insane on many levels. It creates an extraordinarily criminogenic environment in which securities fraud will become even more out of control. One of the forms of insanity is the belief that one can “win” a regulatory…
The preposterous credit world view presented in Ben Bernanke’s lecture series at George…
Federal Reserve Chairman Ben Bernanke's lecture series at George Washington University is most unfortunate. The first instinct, at least here, is to let it pass. Two of the man's characteristics will be addressed in what follows. First, his…
Today’s Developments and 4 Important Observations
The market lacks conviction after shrugging off the disappointing European flash PMIs last week. Even though Italian and Spanish bonds are firmer today, outperforming Germany, we detect a deterioration of conditions in Europe and are…
Financial repression: Then and now
Rich nations worldwide have a problem with debt. In the past, such problems have been dealt with by several tactics, including “financial repression”. This column explains how the tactic works and documents its resurgence in the wake of the…
It’s a Dead-Man-Walking Economy
In an interview with Louis James, the inimitable Doug Casey throws cold water on those celebrating the economic recovery.
Smoking Gun at MF Global
Bloomberg News allegedly has an e-mail demonstrating that Jon Corzine, MF Global's CEO, gave “direct instructions” to his underlings to transfer $200 million from one customer account to another account in order to meet an overdraft in one…
Daily Commentary: Quick thoughts on European data
The daily links and commentary is a bronze-level post. Quick thoughts: This past week made it abundantly that Europe is slowing fairly dramatically. A number of countries have entered recession. I have been saying since October that Europe…