Author Archives: admin

Why Has Classical Capitalism Devolved To Crony Capitalism?

“Prices have been so distorted (the ultimate goal of Central Planning everywhere, from China to the EU to Japan to the U.S.) that the illusion of stability is impossible without more intervention.  This leads to two self-liquidating dynamics: diminishing returns … Continue reading

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Definitive Guide To Investment Risk

Investment risk may be a complex subject but Howard Marks has come very close to writing the definitive document on this subject. This may not become widely read but it is clearly a timeless resource for any investor who wants … Continue reading

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“For Wonks Only”

“Cross your fingers, credit growth is a necessary but not sufficient condition for economic growth. Economic growth depends on the productive use of credit growth, something that is not occurring.” – Bill Gross, probably the most successful bond market investor … Continue reading

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“Central Bank Monetary Policy Enables Us to Put Off Real Reforms”

“This cycle of entrenched interests protecting their skims and scams via central bank monetary policy is self-liquidating: every nation that pursues this “fix” will find its economy liquidated by financial implosion and the hollowing out of productive sectors to support … Continue reading

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Why is Europe not “coming together” in response to the Euro Crisis

Here is an excellent overview of the how Europe is currently failing to address its accelerating problems and seems to be drifting towards fragmentation: link to article

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Are Your Investment Decisions Catastrophically Mis-informed?

“My point is that manipulating markets strips markets of price discovery of assets and risk and the feedback that enables markets to recover equilibrium; decisions made when risk and price have both been suppressed or hidden by manipulation are necessarily … Continue reading

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Corporate Debt Red Flag

Over the last month Junk bonds have begun to underperform Treasuries: http://finance.yahoo.com/q/bc?s=HYG&t=1m&l=on&z=l&q=l&c=ief Many corporations have been abusing their balance sheets in recent years, and will soon have to rollover a mountain of accumulated debt: http://www.zerohedge.com/news/2014-07-28/chart-has-high-yield-investors-running-hills This is the Achilles Heel of our current economic … Continue reading

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Are There No Hard Limits on Financial Finagling

“Just as many on the edge of suffering a heart attack have no awareness of the risk they face, our financial system is blind by design to the enormous systemic risks generated by central planning distorting price discovery for the … Continue reading

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Treasury Bonds Undervalued

The consensus remains convinced that Treasury Bonds are massively overvalued. Here is a brilliant and highly credible explanation why that may be completely wrong, with the bonus of some additional very well reasoned economic insight. link to article

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The 2 Trillion Dollar Corporate Buyback Tax Ruse

Here is an excellent analysis of how stock buybacks have been massively reducing the corporate tax bill particularly for the bigger companies: link to article The scale of this new tax ruse is astonishing and has now reached the point … Continue reading

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