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
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
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
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