Rising implied inflation heralds the end of the MMT party
“By My word and for the good of the state, The bearer has done what has been done.” Has WuFlu returned us to a fictional 17th century where any excess is permissible “for the good of the state”, but where accountability is as nebulous as the infamous ‘Carte Banche’? Looking at the unmitigated project fear […]
Continue readingInvestors start to challenge fiat markets for delivery
It should be fairly obvious that when supply exceeds demand, then prices will fall. Print more fiat cash than one is growing the economy and you’ll end up with currency debasement, even if initially governments and their central banks can spin this as asset inflation and some sort of spurious economic success story. Spew out […]
Continue readingBah Humbug!
With Dover shut by the Frenchies and restaurants in large swathes of the land shuttered by an AWOL government, Tiny Tim will at least be able to bring home some of our own great domestic produce for what used to be the festive season. In season Turbot, Lobster and scallops from our cold waters or […]
Continue readingNever let a crisis go to waste
Well, they’ve got their financial reset, muzzled us and frightened us into obsequiousness. Unfortunately, as this CV-19 ‘pandemic’ develops, a chasm is opening up between Government policy in some countries and what is actually supportable by the IFR data. What might have been reasonable in the fog of the March panic is increasingly less so […]
Continue readingCuriouser and curiouser!
Will Trump go ‘full Boris’ after his brush with the ‘China virus’ and follow the Democrats with more lock-downs, or will it harden his resolve to get America back to work? Hopefully it will be the latter, as the pace of employment growth is already slowing and Pelosi’s foot-dragging on the stimulus bill will only […]
Continue readingEscaping the CV-19 lock-down trap
Recent CDC data might confirm only 6% of US CV-19 fatalities were without co-morbidities, but sections of our political class seem reluctant to relinquish control and restore normality in society and economy. No more so than in the US ahead of the November elections and were those opposed to Trump appear determined to sustain the […]
Continue readingCommand economics, or just fantasy financing?
Are the lockdowns really an attempt to spare over-whelming health services, or an excuse to bail out all those bad loans sitting on bank balance sheets since 2008? Either way, as IFR data emerges and debt liabilities spiral out of control, the justification and ability to sustain these policies are crumbling. Without central bank support […]
Continue readingAll that Glitters
In December 2009 as the gold price was inexorably rising in the face of central bank currency debasement, called QE, we started to get scare stories about fake gold. A decade later and the Fed is back to its old tricks again and investors are rushing into the yellow stuff to preserve capital and once […]
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