Corporate Profits versus Corporate Profits

Real profits are down 2.7% from last quarter.  A tad bit lower than the 15% growth reported in the media.  But don’t worry, the media will maintain the positive narrative since they only care about non-GAAP profits spoon fed to them by the price-seeking corporations themselves and wall street analyst who make up “future” earnings ratios and happy narratives.

Doug Noland: The VIX and the Scheme

There was little market reaction to Emanuel Macron’s widely-anticipated big victory in the French presidential election. The euro actually retreated somewhat, in a “sell the news” dynamic. European equities ended the week […]

Investing in the I Fund

The MSCI EAFE index invests in the developed world’s stock market minus the US and Canada. Many popular international funds such as the TSP I fund and IEFA ETF track this index.  […]

Doug Noland: Belly of the Beast

There remains this dangerous misperception that economies can simply grow/inflate their way out of debt problems. This is at odds with reality. Especially late in the cycle, liquidity is funneled into inflating […]

Doug Noland: Unsound Finance

With Emanuel Macron and Marine Le Pen moving on to next Sunday’s (May 7) runoff French presidential election, first-round results proved right in line with the polls. One would typically expect “as […]