“Competition without innovation is low-level competition and zero-sum competition between vested interest groups,” Shi Jianzhong
Author: therealheisenberg
I Am Become Manchin, Destroyer Of Progress
The issues were the same in Washington on Thursday. There was incremental progress, but no
Just Tell Me The ‘Why’
No matter how badly we want to answer the “Why?” question, it’s almost never a
The Selloff Accelerants
It was just — let me check the watch I’m not wearing — 24 hours
Maybe America Wasn’t Such A Good Idea After All
Time and again over the past several years I’ve lamented the scope of government dysfunction
‘When Markets Shudder’
After some catch-up selling in Asia, markets calmed a bit on Wednesday. Tuesday’s rates-driven dramatics
China’s Power Crunch Steals Macro Limelight
“Yet another growth shock.” That’s how Goldman described China’s worsening energy crunch on Tuesday. You
When Your Risk-Free Asset Turns On You
Investors were once again “treated” to a rates-inspired tech selloff Tuesday, a fairly regular occurrence.
Surprise! US Consumer Mood Sours Again
In news that will surprise exactly nobody (other than the several dozen economists whose forecasts
Home Prices Log New Record; Downpayment Burden Worsens
Home prices rose less than anticipated in July. Consensus expected S&P/Case-Shiller’s 20-city index to post
Calls Grow For ‘Structural Bull Market’ In Surging Crude
I’m continually amused at how quickly the narrative changes. I used to jokingly refer to
Oil And Bonds!
Oil and bond yields. It was all about oil and bond yields on Tuesday. In
Retirement Party
Just about the last thing the Fed needed at a time when untold millions of
As The Pendulum Swings
We’re back to worrying about whether the mega-cap leadership can stomach higher bond yields. “Mega-cap
Squeezing The Largest Asset Class On The Planet
Over the past six months, copious amounts of digital ink was spilled on China’s escalating
‘Slowdown’ Need Not Mean ‘Downturn’
Durable goods orders came in well ahead of expectations for August, data out Monday showed.
Sans Angela
Germany “should have a new government before Christmas,” Olaf Scholz said Monday, after his Social
To The Brink. For The Sheer Hell Of It
Americans were subjected to a series of highly unfortunate soundbites on Sunday, as US lawmakers
Dysfunction Junction
Last week’s bond selloff puts the spotlight on rates in the week ahead. Although some
Congrats. You’re All Rich
I’m always hesitant to document increases in US household net worth. In simple terms, the
Meanwhile, In Turkey
Recep Tayyip Erdogan is irritated. At grocery stores. “Markets are turning upside down with products
The Hamster Wheel
It was as predictable as it was laughable. Stocks ended the week mostly unchanged, making
Dave Portnoy Not ‘Nuts.’ About Stocks, Anyway
US equity funds witnessed their largest exodus since “Volpocalypse” over the latest weekly reporting period,
Half-Million-Dollar Homes For Sale!
New home sales were more robust than expected in August, data out Friday showed. Sales
China Outlaws Cryptocurrency (There’s Always El Salvador)
I won’t turn this into an “I told you so” moment, because in addition to
Madness: Stocks Suffer First Outflow Of 2021
It finally happened. After an uninterrupted streak of weekly inflows that saw more than $776
Silence Isn’t Golden On Missing Evergrande Coupon
Silence. That’s what the market heard from Evergrande, which was supposed to make an $83.5
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