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Recovery!

In this case the term refers to my health. My condition was a little more serious than the doctors originally thought. I have had successful triple bypass surgery and am out of ICU and on the road to recovery. It will be a week or two till I get up to speed. I will adjust…

Here’s A Pretty Good Excuse For No Posts on Monday

I wrote the last two Pro Trader Market Update reports while sitting in a hospital bed this weekend after having had a small heart attack on Friday. On Monday I’ll have a procedure to correct the problem, and should be as good as “slightly used-reconditioned” in a few days. When I started having severe chest pain after…

The Cult Of Central Banking Is Dead In The Water

CPI, PCE and Reality - Click to enlarge

The Fed has been sitting on the funds rate like some monetary mother hen since December 2008. Once it punts again at the June meeting owing to Brexit worries it will have effectively pegged money market rates at the zero bound for 90 straight months. There has never been a time in financial history when anything close to this happened, including…