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Markets

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What Do Stocks Have to do With the Price of Pork in China?

Jun 08, 2007 at 00:00

By tripling the tax on brokerage transactions, the Chinese government succeeded, at least temporarily, in restraining the surging Chinese stock market. But my expectation is that the correction will be…

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When the 'Hum' Turns into a 'Tune'

Jun 07, 2007 at 00:00

We don't think the 'Fat Lady' is ready to sing, but the turning point of the July 2006 to date rally may be upon us.

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Equity Markets Flying Without Instruments Into a Non-Linear Storm?

Jun 07, 2007 at 00:00

I would like to make two key points that I think are not as widely understand as need to be right now. First, at certain critical inflection points, there is…

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Interest Rates and Market Valuation

Jun 07, 2007 at 00:00

It's clear that the peak in 2000 not only marked the beginning of a period of real asset outperformance, it also marked the start of a phase of reducing the…

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Liquidity and the Yen Carry Trade Redux

Jun 07, 2007 at 00:00

As the bulls continue to have a "field day" with the bears (the Dow Industrials, the Dow Transports, and the S&P 500 all closed at all-time highs for the week),…

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Gold-Oil and Gold-Industrial Metals

Jun 07, 2007 at 00:00

The following charts present a picture of gold having bottomed - a potential inverted head & shoulders vs. oil and double bottom vs. GYX - but that is the best…

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Financial Toxic Waste Disposal

Jun 06, 2007 at 00:00

$503 billion is a lot of collateralized debt obligations, and a whopping 500% increase in three years is enough to make your eyeballs comically spring from your head, as in…

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The ECB Takes Another Step Toward Reining In Global Liquidity

Jun 06, 2007 at 00:00

Today the European Central Bank (ECB) raised its policy interest rate 25 basis points to a level of 4.0%. Today's rate hike brings the cumulative increase to an even 200…

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White House Buys into "Immaculate" Recovery Theme

Jun 06, 2007 at 00:00

Today the White House updated its economic forecast from that made last November. Back then, the Bush administration was expecting real GDP growth of 2.9% in 2007 on a Q4/Q4…

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TedBits

Jun 06, 2007 at 00:00

This week we are beginning a "new series" of commentaries and mental exercises centered on the concepts of a "Crack-up Boom" by Ludvig Von Mises. As you all know who…