Tag Archives: the Fed

  • Insider

    Epic Fail

    Ignore the stock melt-up. The data is screaming we're in trouble.
    by Chris Martenson

    Monday, November 25, 2019, 1:46 PM


    The US Federal Reserve currently believes they are doing “good” by preventing downturns and sending asset prices higher.

    But in reality, they’re setting the stage for a very disappointing future. Perhaps even a violent one.

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  • Blog
    central banks

    The Phantom Mania

    There's nothing of substance underlying the current market melt-up
    by Adam Taggart

    Friday, November 22, 2019, 5:00 PM


    Well, stocks are back at all-time highs. Ignited by the Fed’s “Not-QE” program and endless Trump administration teases of an “imminent” China deal, the S&P 500 has been propelled above its upward Bollinger band — a hyperextension only seen one other time since 2007.

    Every week since Not-QE was announced has seen the S&P close green (this week finally ending the streak, barely). We’re officially in a melt-up, where both good news and bad news are accepted as valid reasons to push stocks even higher.

    But what’s notable about this melt-up is that it’s missing a compelling narrative. Every past asset price mania required a feel-good mantra that convinced the masses “This time is different!”.

    But today? What’s the radically better future being promised? Where’s the party train headed to?

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  • Insider
    Everett Collection/Shutterstock

    Off the Cuff: The Fed Is Very, Very Scared

    Confidence in its omnipotence is waning
    by Adam Taggart

    Friday, July 18, 2014, 6:16 PM

    • The Fed's Nightmare
      • Bedlam will ensure if/when the market loses confidence
    • Age of Anomalies
      • Fed-induced market distortions are shaking that confidence
    • Pump & Pray
      • Does the Fed have any better game plan?
    • Central Planning Fault Lines
      • Rifts among allies are increasing the risks
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  • Podcast

    Keith Fitz-Gerald: The Perils of Underestimating Complexity & Mispricing Risk

    Magical thinking is dangerous
    by Adam Taggart

    Saturday, August 25, 2012, 3:16 PM


    "If you’re rich you get a bailout. If you’re poor you get a handout. And if you’re middle class you get left out. " That's not a sustainable way to run the system, exclaims investment strategist Keith Fitz-Gerald.

    A cancer at the core of our current economy is the magical thinking, "no pain, all gain" philosophy, pursued by those running it. They are doing all they can to remove the consequences of failure from the system — not realizing that failure plays an essential 'waste-clearing' function of a healthy free market.

    Without the discipline of Darwinism, the individual actors in the system make all sorts of malinvestments that would never make sense in an efficient marketplace. But since the losses from these inane pursuits are socialized, there's no incentive to stop making them. At least, up until the point where the class who's back is burdened with paying for the socialized messes finally breaks.

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  • Blog

    Daily Digest 11/12 – Insider Selling Record, Energy Demand Jump by 2035, Who Pays for Toxic Spill?

    by DailyDigest

    Friday, November 12, 2010, 4:00 PM

    • The Dollar: Every Man For Himself
    • The Fed’s Got POMO Fever!
    • NFIB: Small Business Optimism Improves Slightly
    • Hayward Admits Banks Stopped Lending to BP
    • Insider Selling Hits Record $4.5B As Everyone Gets Out Of Market
    • Oil Rises to Two-Year High as Equities, Dollar Offset Supplies
    • Jump in Energy Demand Seen by 2035
    • An Arctic Oil Spill Could Linger for Years
    • Post Europe: Environmental Damage – Who Pays?

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