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Notes From Underground: LIKE SARTRE, EUROPE IS LOOKING FOR AN EXIT FROM AN...
The perfidy of EUROPE has led down a path of possible financial ruin as the EUROCRATIC ELITE have lived in a fantasy land denying that the markets have had a better understanding of the ills plaguing...
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Notes From Underground: BRUSSELS TO WASHINGTON–HOW MANY ROADS CAN A CAN BE...
Last week, the Eurocrats tried to persuade the markets that it has gathered the strength to deal with the DEBT CRISIS IN earnest. But even with three days to analyze and digest the statements it is...
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Notes From Underground: Pushing On A String “Yields” a YO-YO Market
The great economist and bon vivant, Joseph Schumpeter, described the failure of low interest rates to stimulate the animal spirits of businessmen as “PUSHING ON A STRING.” In paraphrasing this concept,...
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Notes From Underground: “Everybody’s Talking At Me I Can’t Hear A Word...
It was a day of dueling flapjawing as the European elite was out talking about everything that needs to be done to save the EURO and Sarkozy promising that there would not be any European defaults....
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Notes From Underground: DSK Spoke in Beijing and Now His Black Book Has...
Dominique Strauss-Kahn delivered a speech today in Beijing, lambasting the leadership of Europe for its “state of denial” about the severity of the credit crisis. It seems that an angry DSK is speaking...
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Notes From Underground: JOBS, Another Disappointing Data Release
Tonight’s BLOG POSTING WILL BE THE LAST FOR TWO WEEKS AS I HEAD OFF TO THE LAND OF THE RISING SUN. MY SUGGESTION IS TO GET LONG VOL AS MARKET ACTION ALWAYS INCREASES WHEN I TAKE AN EXTENDED LEAVE (just...
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Notes From Underground: The COLLATERAL DAMAGE From Bernanke’s Fed Policy
Is there anyone involved in financial markets who doesn’t believe that GLOBAL BOND MARKETS ARE BROKEN AS INDICATORS OF PREDICTED ECONOMIC PERFORMANCE? The FED has pursued a policy of TWISTS AND QEs as...
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Notes From Underground: Schaeuble Proves Why 2+2=5
In the realm of loving and promoting the irrational over the rational expectations of the MODEL BUILDERS, there is no better poster child than German Finance Minister Wolfgang Schaeuble. As I warned...
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Notes From Underground: … And From The Joker (IMF Director Christine Lagarde)
Today we got follow-through in the global equity markets as the EUR/YEN cross rallied to three-year highs since the YEN was, again, the chief recipient of the Bank of Japan’s (BOJ) enhanced efforts to...
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Notes From Underground: BIS Warns About “Euphoric” Markets
The big news story from the weekend has been the warning from the central bankers’ banker, the Bank For International Settlements (BIS), that financial markets have become “… detached from the reality...
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Notes From Underground: CNBC Santelli Exchange — Flattening the Yield Curve
Click on the image to watch Rick and I discuss the U.S. 5/30 YIELD CURVE and how there’s no market signals but central bank signals.
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Notes From Underground: Enduring the Doldrums of a Central Bank-Controlled...
Never has such calm winds cause so much turbulence. The markets have been grinding up and down during the last four weeks as traders and investors weigh the consequences of the Greek resolution and the...
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Notes From Underground: When I Have Something to Say Sir, I’M GOING TO SAY IT...
The markets are in turmoil and it gets the mind to thinking: What could possibly have caused today’s reversal in the stock market and the long end of the BOND MARKET? The market seemed like it was on...
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Notes From Underground: Santelli Exchange — Central Banks Triggering More...
Click on the image to watch me and Rick discuss flawed central bank policy.
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Notes From Underground: He Goes Running For the Shelter of His Mother’s...
(Larry Summers had to run to his medicine cabinet to take Prozac (not Diazepam as in the Rolling Stones song) after he read the G-20 communique. The finance ministers and central bank heads meeting in...
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Notes From Underground: CNBC Santelli Exchange–Central Bankers’ Timing
Click on the image to watch me and Rick discuss central bank policy timing.
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Notes From Underground: Merkel’s Boner, Take Two
It seems that 108 years is enough time to pass to relive history. For those who are not sports fans, Merkle’s Boner is a famous mistake made by New York player Fred Merkel, who didn’t touch second base...
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Notes From Underground: The Loudest Sound In the Universe Is a Habit Breaking
The markets have been in a lock-step since easy central banks have been pushing bond yields lower and equity prices higher. (Currencies are a mixed bag depending on safe haven status, high yields or...
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Notes From Underground: Mario Draghi Brings New Forth a New Standard of...
The Mario Draghi brought forth a new and improved standard of “truth obfuscation” at Thursday’s ECB press conference. When Draghi answered a question about the ECB basing its policy on politics he...
View ArticleNotes From Underground: Prairie Fires On the Global Landscape
Let me put introduce areas of great concern that markets acknowledge but do not price for as they are too difficult to weigh. The Chinese/U.S. trade negotiations are simple relative to the potential...
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