Author Archive

Ad Hoc Commentary – Uncle Sam, the new tax haven

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“The U.S. government has been issuing more debt, but it’s not getting more foreign buyers in the door. As a result, U.S. investors have so far financed all of this year’s increase in… Continue reading

Ad Hoc Commentary – fears of China overtaking the West is largely exaggerated

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Demographics and energy flows impose fundamental limits to the business cycle. Human intellect and energy conversion is always necessary to accomplish economic activity. Even though favorable demographics and abundance of energy does not… Continue reading

Ad Hoc Commentary – the Italian Job

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“Sometimes it is the people no one can imagine anything of who do the things no one can imagine.” Alan Turing The populists in Italy whom no one thought anything about are now… Continue reading

Ad Hoc Commentary – rate hikes irrelevant as monetary transmission is broken

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Yours truly apologize for not writing in recent times. Today is Fed Powell’s first meeting. Markets are very different today compared to the last Fed rate hike cycle of 2004-2006. Today, Fed Funds… Continue reading

Ad Hoc Commentary: Dodd-Frank rollbacks to fix monetary transmission via FX Swap

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Monetary policy transmission is broken today as measured by the FX swap implied rate of US dollar versus Interest on Excess Reserves rate. Those who are still looking at Libor versus Fed Funds… Continue reading

Ad Hoc Commentary – is the very dark eclipse at eclipse-capital-Carbondale an omen?

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In early January, we were hopeful: “…all is not lost for central bankers, arguably the only game in town, as the black moon is not able to block out the lights from the… Continue reading

Ad Hoc Commentary – are we on the verge of a stock market selloff?

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About 11 months ago, we wrote: “…a Trump presidency coupled with US dollar strength will cause the S&P500 to jump, doubling or even quadrupling. This is mainly because the Donald has the willingness… Continue reading

Ad Hoc Commentary – economists should embrace Trump to rebalance the world economy

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One can’t help noticing that those who failed to predict that Trump would win the presidency are now channeling their energies into predicting that the world economy is doomed because of Trumponomics. Yours… Continue reading

Ad Hoc Commentary – 2017 heralds in The Great American Total Solar Eclipse and Orwellian 1984

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It is a tradition for the Federal Reserve to hold an annual policy symposium at Jackson Hole, Wyoming in late August: “…Each year, participants from across the globe gather in Jackson Hole, Wyo.,… Continue reading

A cheaper Porsche makes for a happier taxman – Global Porsche 911 Index

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A cheaper Porsche makes for a happier taxman – The Porsche 911 Index The Porsche 911 index – The Cheaper your Porsche, the happier your Taxman Assume all you ever wanted us to… Continue reading