Chicago’s pension system (for police and firefighters) is all-but-officially bankrupt, and Chicago’s property owners look like the most likely target for the city’s desperate attempts to save it. According to a report by Nuveen Investments, a state law passed in 2010 — but that kicks in next year — requires Chicago to massively increase its pension payments in…
One of the most pernicious effects of the Fed’s policies on American politics, especially over the past 25 years, has been what increasingly seems to be a homogenized set of policy choices. Identifying this homogenizing effect has been one of the themes of Mixed Market Artist. [youtube width=”560″ height=”315″]https://www.youtube.com/watch?v=vS-zEH8YmiM[/youtube] For example: Americans elected the “Not Bush”…
A great man, Father Kinoti, once explained that “often people rail against something because they sense its innate evil. They might not be able to articulate or fully discern what the slight is, but their heart informs them.” Central banker, Mario Draghi (i.e., the Master of the European Universe) got what was coming to him. In my…
The cycle of cheap energy, a strong dollar, and weak global demand (including a weak China), first described in “Crude Analysis of Crude: I Enter the Center of the Cycle”, might give way to what could be a significant event. The price of the Crude Light Oil contract, traded on Globex, is nearing its 100 day…
China Trade Balance (Mar), which came at CNY 18.8 bln vs exp CNY 250.0 bln, with exports -14.6% y/y (in yuan terms), while imports were -12.3% y/y (yuan terms), all components being a big miss, that has sent the rate at its day lows of 0.7610 from 0.7675/80 (AUD). It is interesting to see Chinese…
We can pretend that what has not had the greatest effect on the economy during the Obama years is ZIRP or zero interest rate policy. We can pretend that the force of Federal Reserve liquidity provisions is a lesser force than the accomplishments of President Obama and Washington politicians throughout this period. We can pretend that Washington…
If only we all had enough money to pour into healthcare stocks to reap the greatest windfall from the Affordable Healthcare Act! A View of the Healthcare Sector Bailout The breathtaking rally we have seen in healthcare stocks RESOUNDINGLY displays that the Affordable Healthcare Act amounts to a bailout of the healthcare sector – a debate that some like to…
When the division of labour has been once thoroughly established, it is but a very small part of a man’s wants which the produce of his own labour can supply. He supplies the far greater part of them by exchanging that surplus part of the produce of his own labour, which is over and above…
If you can keep your head when all about you Are losing theirs and blaming it on you, If you can trust yourself when all men doubt you, But make allowance for their doubting too; If you can wait and not be tired by waiting, Or being lied about, don’t deal in…
Listen to an interview with Billy Lee discussing the financial markets on Commodity Wrap with Alexandra Lively
