Oleksii Sergieiev, Dreamstime

For Heaven's Sake: Hedge!

If you're not positioned defensively by now, you're nuts
Thursday, April 30, 2015, 9:58 PM

Last fall, I wrote an article titled Defying Gravity that warned of the absurd price levels that stocks and bonds had risen to. Less than a month later, the stock market abruptly dropped by 7%. Those who didn't seek safety in advance were left licking their wounds, panicked not knowing if the painful down-draft was over.

So here we are roughly six months later, and the same warning bells are ringing -- just louder this time. » Read more



Time To Toss The Playbook

In uncharted territory, flexibility & open thinking are key
Wednesday, February 25, 2015, 9:07 AM

Just when you thought the world could not spin much faster, global monetary events in 2015 have picked up speed. 

Buckle up. » Read more


How Many More “Saves” Are Left in the Central Bank Bazookas?

Very few, it seems
Wednesday, February 18, 2015, 9:45 PM

The remarkable success of grandiose pronouncements, money-printing programs and serial expansions of credit raises a key question: how many more “saves” can the central bank bazookas fire that will have the desired effects of maintaining perceptions of central bank omnipotence and pushing global markets ever higher? » Read more



David Stockman: The Global Economy Has Entered The Crack-Up Phase

And will be characterized by these 4 developments
Sunday, February 15, 2015, 2:42 PM

Few people understand the global economy and its (mis)management better than David Stockman -- former director of the OMB under President Reagan, former US Representative, best-selling author of The Great Deformation, and veteran financier.

David is now loudly warning that events have entered the crack-up phase, which he predicts will be defined by the following 4 developments: » Read more


Netfalls - Remy Musser/Shuttestock

Greece Exposes The Global Economy's Achilles Heel

Countries that can't repay their debts -- won't
Thursday, February 5, 2015, 3:54 PM

The new Greek political party, known as Syriza, the Coalition of the Radical Left, has done the unthinkable: they've dared to speak the truth.

Such honest assessments are not supposed to be uttered in politics, no matter how true they may be. And so, as you can imagine, the machinery of the defenders of the status quo is in quite a lather over the whole affair. And it's doing everything it can to minimize and marginalize the new Greek government. » Read more


Blueximages |

Axel Merk: Why Asset Prices Must Return To Lower Levels

It's the price you pay for forcing capital to speculate
Saturday, January 24, 2015, 3:59 PM

Saying it's been a busy week and half on the central bank front is perhaps a sizeable understatement. 

First, the Swiss National Bank stunned the world (and its brethren central banks) by removing its peg to the Euro. This was quickly followed by Mario Draghi finally making good on his longtime threat of firing QE bazooka, announcing that the ECB will pursue a 60 billion Euro per month easing program for the next 16 months. And amidst all the smoke, the Canadian central bank snuck in a surprise rate cut to its interest rate.

To make sense of both the "Why?" behind these extreme moves, as well as the "What?" in terms of their implications, Axel Merk, founder and Chief Investment Officer of Merk Funds joins us this week. » Read more


Off The Cuff: Central Banks Gone Wild

Big moves this week by the ECB, Switzerland & Canada
Friday, January 23, 2015, 10:41 AM

In this week's Off the Cuff podcast, Chris and Mish discuss:

  • The ECB Bazooka
    • Making sense of Draghi's QE announcement
  • The Swiss Surprise
    • A massive shock to the status quo
  • The Canadian Cut
    • Suddenly panicking about their asset bubbles
  • Making Sense Of The Madness
    • We're suddenly a lot closer to the endgame


Central Planners Are In A State of Panic

Japan's black swan flaps its wings
Thursday, November 6, 2014, 8:36 AM

Everything the central planners have tried has failed to bring widespread prosperity and has instead concentrated it dangerously at the top.   Whether by coincidence or conspiracy, every possible escape hatch for 99.5% of the people has been welded shut.  We are all captives in a dysfunctional system of money, run by a few for the few, and it is headed for complete disaster.

To understand why, in all its terrible and fascinating glory, we need look no further than Japan. » Read more



The Global Slowdown

Economies across the globe are weakening notably
Monday, October 6, 2014, 7:46 PM

I am on record as saying that the end of the US Fed money printing (a.k.a 'QE') is a bigger deal than the equity markets of the west and Japan have factored in.

Further, I don't think that the ECB has sufficiently picked up the baton from the US Fed and I seriously doubt that they will be able to expand their money printing efforts much beyond that already announced due to pressure from a reluctant Germany. » Read more



Ready Or Not...

The unsustainable status quo is ending
Thursday, September 25, 2014, 3:00 PM

If risk has been taken from where it belongs and instead shuffled onto central bank balance sheets, or allowed to be hidden by new and accommodating accounting tricks, has it really disappeared? In my world, risk is like energy: it can neither be created nor destroyed, only transformed or transferred. 

If reality no longer has a place at the table -- such as when policy makers act as if the all-too-temporary shale oil bonanza is now a new permanent constant -- then the discussions happening around that table are only accidentally useful, if ever, and always delusional. » Read more