FTX owes a lot of real money to a lot of people who, thanks to
Author: therealheisenberg
Wampanoag Week
US investors will pause this week in solemn remembrance of the generosity bestowed upon early
Stagflation, Stochasticity, Simplicity
The consensus is that stagflation is the consensus. The awkward wording there is intentional. At
What Wall Street’s Favorite Bear Expects In 2023
Wall Street’s favorite bear has good news and bad news. Ok, it’s mostly bad news.
Why This Time Is Different
This time is different. Or, actually, this cycle is different. The first of those two
Goldman Says These Five Themes Key For 2023
2023 will be the year when “we finally put pandemic disruptions behind us to deal
Don’t Cut The Wrong Wire!
Let’s be clear: The Fed funds rate modern markets can tolerate is almost surely lower than
Big Stock Inflow Shows ‘Chase Is On.’ BofA Says Fade It
The “chase is on,” BofA’s Michael Hartnett declared, in the latest installment of the bank’s
Americans Financed Fewer Expensive Used Homes Last Month
Previously owned home sales fell in the US last month. Because why wouldn’t they? Mortgage
FTX Bankruptcy: A Failure Of Everyone
John J. Ray III has seen some things in his time. He oversaw the liquidation
The Fed Versus Taylor Swift
What came first, inflation, market pricing, Wall Street Fed calls or Fedspeak? It’s hard to
Single-Family US Housing Starts Drop To 29-Month Low
Single-family housing starts dropped to a new post-pandemic low in October, data released Thursday showed.
Sam Bankman-Fried’s Greatest Gift
“F–k regulators.” Said Sam Bankman-Fried, apparently feeling a little lonely in the Bahamas. Crypto coverage,
Buyers ‘Increasingly Scarce’ In Worsening US Housing Crisis
Homebuilder sentiment dropped again in November, data released on Wednesday showed. It was the 11th
Surprise! Americans Still Spending
Surprise! Americans are still spending. On their credit cards, maybe. But still spending nevertheless. Retail
Americans Have Some Credit Card Debt
What do you get when you combine soaring credit card balances with rapidly rising rates?
Kolanovic: Recession ‘Difficult To Avoid’
A recession may be “difficult to avoid.” That’s according to JPMorgan strategists led by Marko
No ‘Big Low’ For Stocks Without Rate Cut Hope: Survey
We’re not there yet. It’s a familiar refrain when it comes to the “Big Low”
The Dollar Story
It was happening again on Tuesday. “It” means an unwelcome easing of financial conditions courtesy
A ‘Mystery’ Solved And The Fear Of Materially Underperforming
Whenever I say something like this, I usually end up regretting it because making definitive
‘Peak Inflation’ Narrative Gets Another Big Boost
Let the celebration continue. Days after a cooler-than-expected US CPI report triggered a spectacular rally
FTX Had A Million And One Suckers
On Tuesday, we learned that Sam Bankman-Fried’s smoldering empire may have ten times the number
Scientific Efficiency
It’s a good thing they have a 20-point plan! Retail sales in China unexpectedly contracted
The Black Box Exploded
Last week, I kicked off the first of five (and counting) articles about FTX and
Responsible Management
Stand aside, decorum, while I lampoon this farce some more. “We had an open and
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