Don’t forget, the next Fed Chair is going to have to figure out how to normalize the balance sheet and implicit in that is the notion that “heavy” will indeed “be the head”.
Author: therealheisenberg
‘A Reversal Could Be Very Painful’: JGB Average Volume Hits All-Time Low
“…so if there is an unexpected major reversal, it could be very rapid and very painful.”
Someone Has To Lose
Once upon a time all this was offset by a sense that a strong currency was a sign of national virility, but such superstition is passé. It’s all about a total eclipse of the sun, today….
Key Calls (Monday): Upgrades, Downgrades & Initiations
You need an upgrade.
‘These People Are Not So Much Angry As Terrified’
“These people are not so much angry as terrified, with the kind of terror that makes knees tremble.”
Don’t Dig Yourself A ‘Hole’: Full Week Ahead Preview
Ok, so strap in, because this promises to be an interesting week. August has proven
Goldman Took A Close Look At The Polls And ‘You Know What? It’s Fine’…
“The decline among white voters without a college degree is particularly striking.”
LA Times Renews Assault On Trump: ‘Enough Is Enough’
These are not normal times.
‘You Have No Idea How Much Crazy Stuff We Kill’: Trump Staffers
“If they weren’t there, they say, we would have a trade war with China, massive deportations, and a government shutdown to force construction of a Southern wall.”
The Dirty Little Secret Behind The EM Rally…
“However, below the surface”…
What If Bush Had Said, ‘Well, The 9/11 Hijackers Did Buy Plane Tickets’
“Imagine President Obama explaining to reporters asking about ISIS that ‘there are two sides to every story.'”
‘The Art Of War’ – Is China About To Retaliate With Another Devaluation ‘Shock’?
“There are roads which must not be followed, armies which must be not attacked, towns which must not be besieged, positions which must not be contested…†– Sun Tze, The Art of War
WSJ Tempts Fate: Pokes The ‘Scorpion’ With Scathing Jeff Gundlach Piece
“Mr. Gundlach sometimes emails TCW executives, taunting them, boasting of his performance and accusing his rival of not playing fair, people familiar with the matter said.”
“Those emails have continued in recent months.”
Yes, We Should Remove The Statues Of Thomas Jefferson – And Immediately
Let me just be clear, because even liberal media outlets are clinging to this absurd “false equivalence” narrative: there is no “false equivalence” if what we’re talking about is owning slaves.
Saturday Satire: ‘Many Sides To Solar Eclipse’
“There are so many sides you can’t count all the sides.â€
Trump: ‘Protest Is Needed To Heel – And Heel We Will!’
“Sometimes protest is needed in order to heel.”
This Hasn’t Happened Since Brexit…
What comes next?
How Is This Even Legal? EM Debt Fund Cash Balances Hit 4-Year Lows
“…that makes it harder for fund managers to avoid selling securities if volatility jumps from record lows and redemptions increase.”
You Still Have Made a Choice: The 5 Things that Matter
“It may not be optimal to own the most diversified portfolio you can possibly own, because anti-diversifying decisions might, in fact, be worth it. But it is exactly that thought process that must become part of our code as investors. It’s OK to turn down a free lunch, but you’d damn well better know that what you’re going to spend your money on is better.”
Termites And A ‘Loose Bannon’
“And what exactly is he going to attack in the White House? The thin veneer of sanity that Chief of Staff John F. Kelly attempted to create by doing the managing equivalent of stapling Trump under the wallpaper and pretending not to see the lump?”
The Death Of Steve Bannon’s Populist Revolution
Bannon can talk about “going to war” for Trump against Congress and the “globalist” elements in the White House all he wants, but the bottom line is that Steve already went to war – and he lost.
Breitbart Hails The Return Of ‘Populist Hero’ Steve Bannon
Today was Bannon’s last day in the Trump administration and on Friday evening we learn that it was also his first day back at the old barnyard.Â
America Is ‘A Gong Show’ – So Maybe Put Your Money Here Instead
“As summer comes to an end, and investment committees meet in early September, I don’t see how at the margin, America doesn’t get a downgrade from asset allocators throughout the world. The simple fact is that the much hyped Trump optimism has been sorely misplaced.”
Carl Icahn Abandons Trump
ICAHN SAYS HE CEASED TO ACT AS SPECIAL ADVISOR TO THE PRESIDENT
‘We Are In A Dive, I Repeat’…
“You know what? It’s fine.”
Steve Bannon Out At White House
“We are grateful for his service and wish him the best.”
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