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MN Gordon: Why Bonds Are Behaving Like Risky Assets
“When the [credit] delusion breaks, people all with one impulse hoard their money, banks all with one impulse hoard credit, and debt becomes debt again, as it always was. Credit is ruined.” – Garet Garrett, 1932, A Bubble that Broke the World
Down, Down, Down in a Burning Ring of Fire
The Dow plunged 686 points midday on Thursday and closed down 458, wiping out a large relief rally from the day before, and it went down for the key reason I laid out for understanding why the Fed will over-tighten and drive the economy into an extremely deep recession. A batch of economic data that […]
MN Gordon: Facing Down a Wrath of Biblical Proportions
“The LORD sends poverty and wealth; he humbles and he exalts.”– 1 Samuel 2:7 An enterprising entrepreneur did a comedic graphic of Federal Reserve Chairman Jerome Powell captioned: “IN JPOW WE TRUST.” You may have seen it.…
While Inflation and Fear of the Fed Buried Markets, Deeper Troubles Will Soon be Revealed
Monday’s financial news was filled with fantasies about how Tuesday’s CPI report would be as boring for the stock market as watching the paint dry on Fed QT, but all that falderal didn’t even age one day without putrefying to a level of rancidness that would curl the nose hairs of most investors by Tuesday […]
Podcast: Pilot Powell’s Impending Pile-up with the Stock-Market Hallelujah Chorus on Board
Stocks soared, treasuries fell, and the message from Team Fed was “full speed ahead with tightening.” Where did all of Wednesday’s market lunacy come from? We leaped from “Bad news is good news” straight to “Bad news is AMAZING!” Every Fedhead who spoke in Wednesday’s planned lineup made it clear the Fed is dead-reckoning its […]
No Powell Pivot, So the Bear is Back!
Bear-market rallies are always built on delusions. A breath of hope returns to the dying bulls, and all the testosterone and adrenaline rushes to their veins. There is typically no rationality to it. It is pure sentiment, so the rallies are strong, unthinking, and vicious toward anyone who shorted the market, making shorting a dangerous […]
Protected: Economic Predictions for H2 2022, Part 3: Battle of the New Currency Competitors
There is no excerpt because this is a protected post.
It Was Hell Week, and the Fed Can’t Handle the Heat
Jamie Dimon, CEO of JPMorgan Chase, set last week off with a fitting sour note when it was reported across the financial news, he had updated his weather report for the economy: I said there were storm clouds. But I’m going to change it. It’s a hurricane. Right now it’s kind of sunny, things are […]
S&P Confirms Inflation Killed the Stock Market and Has ALREADY Sent us into Recession
With the S&P diving deeper into bear territory today, it solidly confirmed its status as a bear. While it entered the bear’s woods on Monday by closing at 21.8% down, it shoved its nose deeper into the dirt today like a rooting bear will do to affirm its new identity. The short-lived bull market that […]
THE INFLATION MONSTER: It’s Much Worse than we Thought … but Wait until this Little Monster Grows Up!
We could all be on the cusp of the most deadly inflation the world has ever experienced, due to a unique setup of global forces that have the power to accelerate that into happening in a surprisingly short amount of time. I’m going to tell you how that could happen more quickly than anyone appears […]
The Retail Apocalypse was Bloodier than it Looked
Retail was a bloody mess! But revenue looked pretty good … considering! So, what was all the red about, and why all the screaming on the stock exchange? Some of the biggest retail stocks got butchered after reporting higher revenue. Hold it! That doesn’t make sense. Why were corporate owners running out of their stores […]
Are You Sure We’re Not Sinking into Recession Already? Or has this ship already sunk?
I still beg to differ with those who say the plunge from a positive 6.9% GDP growth rate in the last quarter of 2021 to minus 1.4% in the first quarter of 2022 is just noise. “It’s just a passing anomaly,” they say. On the contrary, I am certain the anomaly was the 6.9% reported […]
