Notes From Underground: As We Await the Day of Judgement
This Sunday begins the Jewish Holiday of Rosh Hashanah, which brings on a very solemn 10-day period of deep introspection as God judges the entire world for the coming year. So a very happy, healthy...
View ArticleNotes From Underground: Mario Draghi Declares War On German Economic Policy
In the ECB press conference held today in Malta, the market heard what they wanted to hear and settled in on the idea that Draghi was all set to increase the QE program and/or use the tool of negative...
View ArticleNotes From Underground: Happy Memorial Day, A New Podcast from FRA
I am posting a new FRA podcast that was recorded May 24 with Richard Bonugli. We cover many important topics, including the rise of Bitcoin as an investable product. As I have said often, I need to...
View ArticleNotes From Underground: G-20 Photo Ops Become Relevant … For a Moment
All of the words and photos emanating from Hamburg are figments of the media’s confirmation bias. In Monday’s Financial Times, Wolfgang Munchau had a splendid op-ed titled, “From Brexit to Fake Trade...
View ArticleNotes From Underground: A Take On Mario Draghi in Two Parts
Part I: Mario Draghi, the master of obfuscation was at his best Thursday as he dodged MULTIPLE questions about the recent STRENGTH in the euro. Journalists were very well prepared and even threw back...
View ArticleNotes From Underground: German Elections. The Sound of Complacency Shattering?
I will start tonight’s BLOG with two very good comments from a long time reader and contributor GREEN AB who hails from Germany. Green has always provided great insight and though we don’t always agree...
View ArticleNotes From Underground: Angie, Angie (As Told By the Rolling Stones)
Mick Jagger was prescient when he sang these words in 1973: You can’t say we never tried Angie, you’re beautiful But ain’t it time we say goodbye Angie, I still love you Remember all those nights we...
View ArticleNotes From Underground: Feeding the Ducks When They Quack
Since the unemployment data, I have tried to write an appropriate blog but “all my words came back to me in shades of mediocrity” so I refrained from adding to the stream of vapid commentary that fills...
View ArticleNotes From Underground: Some Issues to Contemplate
On Tuesday, Rick Santelli and I spoke, and, as usual it was way too short as we couldn’t cover anything in the depth we would’ve liked. Regardless, it allows us to get out front of many investment...
View ArticleNotes From Underground: Back to What’s Driving Markets
We have all been bogged down with tweets coming from the White House about China. Because high-speed traders force us to parse the messages and assess the immediate impact on the markets, we’re hostage...
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