2020 was a good year to be rich. I mean, every year is a good year to be rich in many respects, although being rich
Month: December 2020
Many Marvels: The Year In Corporate Credit
One the many marvels of 2020 was the US corporate bond market, where borrowers were able to access cheap money in record amounts despite (or
‘Celebrating’ A Banner Year For Gold, Bitcoin
2020 was a triumphant year for gold bulls, both of the traditional and digital variety. With central banks hell-bent to ensure liquidity flowed like so
‘This Will Not Stand, Man’: Nine Months Later, Jobless Claims Stuck Near 800,000
787,000 Americans filed for unemployment benefits last week, fewer than expected, but still well more than the pre-pandemic record. That jobless claims are still running
And So Ends The Worst Year In Modern History
With many markets shut for New Year’s Eve, the world closed the book Thursday on what will rightly be remembered as one of the worst
Banana Republicans
Headlines Wednesday centered around the distribution of $600 stimulus checks and direct deposits, which began making their way to Americans’ bank accounts, even as a
For Jack Ma, The Cost Of Insubordination Is $11 Billion (And Counting)
Poor Jack Ma. I mean, not really. Things can’t be all that bad if you’re the 25th richest person on the planet. But as far
‘Superfluous People’ And The Arraignment Of Capitalism
“Nothing has defined the 2020 market more than the erosion in the value of human capital,” Bloomberg’s Sarah Ponczek wrote, in a great piece dated
Approvals, Surges, And Variants
More incremental vaccine news greeted markets Wednesday as AstraZeneca and the University of Oxford’s COVID-19 shot won approval in the UK, marking the first regulatory
Adventures In Rage Kapitalism
The last decade stands as the final stage of the transformation of the American psyche, from Protestant ethics of hard work to compulsive risk takers
Threats In Limbo
Another day in post-Christmas, pre-New Year limbo produced little in the way of excitement, although I suppose that depends on one’s definition of “excitement.” The
Loeffler, Perdue ‘Delighted’ To Send You $2,000. Mitch McConnell, Not So Much
“$2,000 for our great people, not $600!,” Donald Trump shrieked into the Twittersphere on Tuesday, minutes before launching into a lengthy election harangue. It didn’t
No Way Out: Breaking The Cycle Of Asset Price Inflation May Be Impossible
I don’t claim to know much with absolute certainty, but one thing I’m almost sure of is that the number of armchair economists, would-be libertarians,
Everybody’s A Dollar Bear For 2021
The dollar looked poised to close out the year with a second consecutive monthly decline, consistent with the prevailing view that the stars have aligned
Onward And Upward?
Global equities hit new highs Tuesday as markets saw no reason to fade the steady grind higher into 2021. The fate of $2,000 stimulus checks
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