The Fed Can’t Tighten

The Fed Can’t Tighten

Gold’s recent selloff looked familiar in that it resembled the types of gold selloffs that occurred when the Fed talked about tightening its loose policy for years in the mid-2010s. It sure talked a good game. But, when it came time to really test how much tightening...
This “Cure” For The Economy Could Kill It

This “Cure” For The Economy Could Kill It

The economy remains under lockdown, although some states are beginning to relax restrictions. As with so many other aspects of American life, there’s been a red state/blue state divide. Red states are generally more willing to reopen their economies, while harder-hit...
The Worst Depression in 150 Years

The Worst Depression in 150 Years

The stock market had another big day today, spurred by the Fed’s massive recent liquidity injections. But you really shouldn’t be terribly surprised by the rally. Even the worst bear markets see substantial bouncebacks. And you can expect the market to give back all...