Doug Noland: “Money” on the Move

When markets turn highly speculative – and especially when in “melt-up mode” – underlying fundamentals are not all that relevant to securities prices. News and analysis will invariably focus on the positive, while surging markets create their own liquidity and self-reinforcing bullish psychology (“greed”). It’s also true that markets can enjoy speculative blow-offs even in the face of underlying fundamental deterioration. The years 1999 and 2007 are not yet ancient history.

Doug Noland: End of an Era

Of the diverse strains of inflation, asset inflation is by far the most dangerous. A bout of consumer price inflation would be generally recognized as problematic and rectified through a tightening of […]

Doug Noland: Must Stop Digging

Amazon, Google, Microsoft, Intel and Draghi all handily beat expectations. Booming technology earnings confirm the degree to which Bubble Dynamics have become entrenched within the real economy. Draghi confirms that central bankers […]

Look Ma, No Inflation

Since 1995, Sweden’s “inflation” rate has averaged under 2% as seen in the chart below.  Please ignore the first chart since we all know housing is not a big part of anyone’s […]

TSP Charts: Quicklook

TSP Charts

The Total US Stock Market has rallied to the top of its price channel and into overbought conditions.  During this rally, the market has worked off previous overbought readings through mild corrections […]