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David Rosenberg writes today in his always excellent Lunch With Dave: It’s interesting that so many pundits lay claim to how great the shopping season is going – and yet nobody is using credit! Have a look at On Christmas Shopping Lists, No Credit Slips on the front page of today’s NYT. A mere 17% of shoppers have […]
Gold and commodities may be way up this year, but NBA ticket prices are down for the second consecutive year. ESPN.com reports: The sports business outlet Team Marketing Report said Wednesday the average price of a nonpremium seat dropped 2.5 percent to $48. That followed a 2.8 percent decrease last season. The Los Angeles Lakers have […]
Steve Keen rocks! I realize I’m a bit impartial due to my deflationary bias, but I make no apologies for my intellectual man crush on Mr. Keen. If you’re not familiar with Keen’s work (or even if you are), check out this video interview with Max Keiser. It’s an excellent one, and if you watch […]
I gotta admit – the markets almost had me! It looked like the Dollar was never going to turn around. And then QE2 was announced, which obviously could ONLY be bearish for the dollar, and ONLY bullish for stock prices. Not to mention the metals, which were sure to do moonshots in short order. A […]
Superstar economist Steve Keen may not blog often as some other folks in finance – but when he does put something together, it’s usually awesome analysis you won’t find anywhere else. Steve’s latest post Deleveraging with a Twist takes a look at the latest deleveraging statistics in the US. He writes that the US is […]
Yahoo Tech Ticker just interviewed Gary Schilling, one of our “high priests” of deflation. Schilling has been right there along with Bob Prechter in calling for deflation many years before it became fashionable. And like Prechter, he’s getting to be quite the popular dude now that his predictions are coming to fruition. In this first […]
You can run, you can rally on low volume, but ultimately you can’t hide from deflation! Today the Deflation Bird digested and ultimately pooped on the lame FOMC statement issued yesterday. It will take more than that, says our feathered friend, to stave off the ravages of deflation. It was one of those now “all […]
The Federal Reserve reported today that it will “roll over” principal payments on its mortgage holdings into long-term Treasury securities. Bloomberg reports: Federal Reserve officials will maintain their holdings of securities to prevent money from being drained out of the financial system in their first attempt to bolster the economy in more than a year. […]
Has any trade over the last few years frustrated more sophisticated investors than the “one-way” bet on rising long-term government interest rates? For the last 2 or 3 years, many (including myself) have been piling into ETFs (like TBT) that act as short proxies for rising long term interest rates. And the logic has been so sound, […]
One of the many things that inflation/deflation guys absolutely cannot agree on is if prices are going up or down. The inflation folks love to say “I don’t know where they shop!” while us deflation guys have no shortage of discount shopping anecdotes. ESPN’s Bill Simmons – not an economist, but a damn good sports […]
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