Doug Noland: Financial Accounts of the United States

An overheated economy and highly speculative equities market should weigh on the FOMC during Tuesday and Wednesday’s meeting. And a potentially critical ECB meeting comes Thursday. Currency instability, fragile EM and European periphery and a Bubbling U.S. create quite a challenge for our global monetary commanders. Cracks in the global Bubble have markets betting central bankers don’t have the guts to normalize.

TSP Charts: A Prelude

TSP Prelude seen in GE chart

This is an update to my January article As GE Goes So Goes The Nation except maybe we should have called it As GE Goes So Goes our Retirement Funds or something like that […]

TSP Charts: About Those Valuations

For some reason President Reagan’s former budget director has an issue with the Russell 2000 small cap index “stratospheric” price-to-earnings (PE) ratio. David Stockman writes that the “actual” PE of the index that holds the 2000 smallest US listed companies is around 91 times earnings.  It was hitting an epic 142 at the end of January by some reports.

Doug Noland: Crisis Watch

It’s worth recalling that the 2016 de-risking/de-leveraging episode was nipped in the bud by an upsurge in global QE (especially courtesy the ECB and BOJ) and a corresponding extension of easy money […]

Doug Noland: Disequilibrium

In a world of too much “money” and Crowded Trades prevailing throughout the risk markets, it regresses into a dysfunctional game of disregarding risk and chasing performance. Buy and hold an equities […]