Author Archives: Chris Belchamber

MMT Dystopia and the Ex Debt Depression

“ … not included anywhere in the Constitution was the Federal Reserve, allowing it the power to guide interest rates ever lower or infinitely purchase assets.” C Hamilton  https://econimica.blogspot.com/2020/05/how-federal-reserve-unilaterally-de.html Economic policy has now defaulted into exploding debt and central bank … Continue reading

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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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Solvency Not Liquidity

Lacy Hunt is a must read, in my view, given his great track record. His latest review highlights that as massive as intervention has been, and likely will continue to be, in his opinion it will be highly ineffective in … Continue reading

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WATCH JPM. Last Kiss Goodbye?

WATCH JPM. Last Kiss Goodbye? I believe perhaps the most important chart going into next week is JPM. https://twitter.com/KimbleCharting/status/1251643183647334407 Why is JPM so important? Because as massive as the Fed intervention is, in my opinion, on its own, it probably … Continue reading

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Helicopter Money For Wall Street

https://wolfstreet.com/2020/03/29/corruption-in-the-time-of-coronavirus-fed-treasury-corporate/ https://wolfstreet.com/2020/03/26/helicopter-money-for-wall-street-federal-reserve-assets-balance-sheet/   The link above shows the extreme and extensive measures taken by the Fed this week, and the extraordinary acceleration in the Fed balance sheet. There’s much more to come. Jim Rickards analyses the The CARES Act, in the … Continue reading

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Q4 2019 Review. 3 levels of Crisis.

https://www.bloomberg.com/news/articles/2019-12-18/stanley-druckenmiller-is-embracing-risk-again-just-timidly?mc_cid=ae838a4f94&mc_eid=d27ddc011b If there is a better long term record by an investment manager than that of Stan Druckenmiller then I’d like to see it. So we are fortunate whenever we get an update on his views. I believe that the … Continue reading

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Central Banks Are Committing To Intervention, As Earnings And GDP Growth Continue To Decline. 

Central Banks Are Committing To Intervention, As Earnings And GDP Growth Continue To Decline.  “Monetary policy can no longer be the main engine of economic growth, and other policy drivers need to kick in to ensure the global economy achieves … Continue reading

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