Call the Men in the White Coats Before it’s too Late
Today Sweden’s Riksbank “shocked the markets” by cutting its main refinancing rate further into negative territory, to minus 50 basis points. Note that according to the FT, “Sweden’s economy is booming”, and the Riksbank itself “forecasts that economic growth will be 3.5 per cent this year, a little lower than the 3.7 per cent in 2015”. Sweden also happens to be home to credit and real estate bubbles that are among the biggest on the planet.
Sweden’s central bank governor Stefan Ingves: yet another dangerous monetary quack
Negative Wealth Effect
DELRAY BEACH, Florida – The sky in South Florida is gray. A cold wind blows across the sand. Since the start of the year, the Dow is down about 7%. But certain stock market sectors have undergone a much harder pruning. First, energy… then the tech… and now banks.
Martin Wolf, chief economics commentator of the Financial Times: easily one of the greatest monetary cranks alive today, an establishment-approved snake oil seller of a quack economist who has never seen a printing press he didn’t like. If the Soviet Union still existed, we would strongly recommend that he move there and become chief economics commentator of the Pravda. The man is positively dangerous to the free market economy and liberty in general.
Photo credit: Regina Kuehne / KEYSTONE
Less Popular Than Syphilis
RANCHO SANTANA, Nicaragua – We’re traveling home to the U.S. from our recent meeting with members of our family wealth advisory, Bonner & Partners Family Office. So, we’ll make this short.
The Dow sold off again on Monday. At midday, it was down nearly 400 points. Then it recovered to end down only 178 points – or about 1%. As we’ve been warning, this market is extremely vulnerable. Watch out.
Leftist war-harpy Hillary Clinton – the candidate of the country’s assembled cronies and zombies, in short, the prototypical Deep State representative. We feel reminded of an aged Cersei Lannister every time we contemplate Ms.“best cattle futures trader in the world” (more). Whatever you do America, please refrain from making this harridan your president. Nothing could possibly be worse. Luckily, even syphilis is more popular than Hillary among young voters. This fills us with hope.
Photo credit: Brandon Marshall / REX / AP
Steps to the Moon
RANCHO SANTANA, Nicaragua – Stocks sold off on Friday. The Dow fell 211 points. Leading the retreat were tech stocks with the Nasdaq, where they tend to hang their hats, down more than 3%.
“Tech sector leads sharp sell-off,” said a Wall Street Journal headline.
Why Should a Decline in Oil Prices be Bad?
The dramatic fall in the global price of oil is being cited by the financial press, government officials, and academia as the catalyst for the recent abysmal U.S. economic data which shows that the economy is, in all likelihood, sliding into a recession or worse.
Oil prices in dire straits…
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