I have never seen a more pessimistic environment despite a stock market that continues to reach all-time highs. The S&P 500.
Continue reading Why I believe the US stock market is cheap vs others
In this era of monetary fiction, one tends to read all types of undocumented and misguided views on monetary policy. However, if there is one that really is infuriating is the MMT science fiction. Continue reading No, Governments With Monetary Sovereignty Cannot Issue All The Debt They Want
Continue reading Monetary Stimulus Does Not Work. The Evidence Is In
Jackson Hole is not going to rescue the bad decisions of investors and politicians from other countries because everyone in the Federal Reserve knows they have something more important to do.
If we analyze the consensus expectations of analysts and investment banks at the end of 2017, the conclusion was unanimous: Buy Europe and emerging against the United States amid weakening US dollar estimates in 2018. And it has been exactly the opposite. We already warned a few times about the risk of such a biased consensus towards a weak US dollar. Continue reading Jackson Hole and the Risk of Inaction