Monthly Archives: May 2020

Amygdalotomy and Extremes Everywhere

The chart below shows the S&P 500 rally since March 23. This has coincided with:     1. A deep worldwide recession,  2. Continued US earnings decline over the last 18 months, 3  Forward expected earnings falling back down to 2017 … Continue reading

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Creditism Crisis Deepened By Covid Catalyst

​ https://charleshughsmith.blogspot.com/2020/05/globalization-and-financialization-are.html I believe the chart above shows how our financial system morphed into creditism from the late 1960s to the early 1980s, and then financial assets took off.  ‘Here’s what’s poorly understood: globalization and financialization die when they stop … Continue reading

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All Currencies Have Been Devalued or Died

“All Currencies Have Been Devalued or Died” Ray Dalio “There are only a few times in history when M2 growth exceeded real output growth over a 5-year span by the same or a faster pace than is currently the case: … Continue reading

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Opportunity From Regime Change

https://twitter.com/epomboy/status/1255520425595088901  In my view, this is a picture of a failing financial system. What little growth there has been since 2008 has been driven increasingly by debt. However, monetary velocity continues to plummet. The Fed is having to make up … Continue reading

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