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Featured

Wall Street Thinks Main Street Might Win In 2026

February 7, 2026February 7, 2026
  • Weekly: The All-Crushing Claude

    February 6, 2026February 6, 2026
  • Happy Or Sad? It Depends On The Size Of Your Portfolio

    February 6, 2026
  • Big Tech Bets Its Balance Sheet On History’s Most Expensive Moonshot

    February 6, 2026February 6, 2026

Markets

Fear The Steepener?

February 6, 2026February 7, 2026
  • Amazon’s $200 Billion Capex Guide May Scare Investors

    February 5, 2026February 6, 2026
  • McElligott Has Unified Theory For Bitcoin, SaaS Plunge, Gold Rally

    February 5, 2026February 6, 2026
  • ‘Trustless’ Bitcoin Confronts Another Confidence Crisis

    February 5, 2026February 6, 2026
  • Alphabet Posts Strong Growth In First Quarter As AI Leader

    February 4, 2026February 5, 2026

economy

Terrible Trio Of US Labor Market Updates ‘Dims Expectations’

February 5, 2026February 6, 2026
  • US Services Sector Steady, But Stagflation Lingers

    February 4, 2026February 4, 2026
  • Trump Tariffs Triggered Dramatic Hiring Slowdown, New Data Shows

    February 4, 2026February 5, 2026
  • The Housing Market Is One Giant Antinomy

    February 2, 2026February 3, 2026
  • Fine Print Throws Cold Water On Wild US Factory Rebound

    February 2, 2026February 3, 2026

Duly Noted+

White Collar Job Openings Evaporate In America

February 5, 2026February 5, 2026

Trick Question: How’s Earnings Season Going So Far?

February 2, 2026February 3, 2026

Politics

Credibility Is America’s Real ‘Deficit Problem’

February 2, 2026February 4, 2026

Weekly: The Decade Dogma Died

January 31, 2026February 2, 2026

Trump’s Right About US Borrowing Costs. But He Misses The Irony

January 29, 2026February 1, 2026

Resistance Is Futile…

December 25, 2016

This is more appropriate now than it was when it was first published. Via Hedgeye.com:

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2 Comments on Resistance Is Futile…

2016: The Year In Charts

December 25, 2016

Well, it’s been an interesting year. What started out as nothing short of a disaster

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oil, OPECLeave a Comment on 2016: The Year In Charts

Saudi Stocks Jump As Market Cheers New Budget

December 25, 2016December 25, 2016

“Not a market was stirring”… Well, except for the Mid-East bourses where Saudi stocks are markedly

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Trump’s NY Campaign Co-Chair Likens Michelle Obama To “Maxie The Gorilla” (And That’s Not The Worst Of It)

December 24, 2016

Donald Trump’s New York campaign co-chair Carl Paladino knows exactly what he wants to see happen in 2017.

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2 Comments on Trump’s NY Campaign Co-Chair Likens Michelle Obama To “Maxie The Gorilla” (And That’s Not The Worst Of It)

A “Stimulating” Pocket Guide To Central Bank Largesse

December 24, 2016

On Friday in “The Ghosts Of Central Banks Past And Future,” I outlined the history

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“Entirely Fake”: Krugman Accuses Trump Of “Scamming” America’s Working Class

December 24, 2016December 24, 2016

“Ha, ha. You all have a clown for a president. This will be interesting.” —

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It’s A “Buyer’s Market” For Weapons; Here’s Who’s Selling

December 24, 2016

Earlier this month, the US decided to block the sale of precision-guided weapons to Saudi

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Talking Turkey: “Don’t Worry, I’ll Just Surgically Remove The Infected Bits”

December 24, 2016

Well, I suppose you can’t really blame Turkey for wanting to crack down on terrorism

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Red Light, Green Light: Should We Deregulate The Banks For Our Own Safety?

December 24, 2016

One of the more amusing things about the dynamics that fed the Eurozone sovereign debt

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2 Comments on Red Light, Green Light: Should We Deregulate The Banks For Our Own Safety?

Rats…

December 24, 2016

Via @kaltoons:

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“The Downside Tail Has Grown”

December 23, 2016

In all my many years observing and analyzing markets, I don’t know that I’ve ever

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A Little Reminder About Macro, Ca. 2010

December 23, 2016

Just to underscore why, as a macro guy, I focus so much on tail risk,

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Is The “Full Employment” Meme A Myth?

December 23, 2016December 23, 2016

I talk to a lot of folks (both pros and retail guys/gals) about markets and,

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The Ghosts Of Central Banks Past And Future

December 23, 2016

Well, it’s just about over. The greatest (or worst, depending on how you’re inclined to

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3 Comments on The Ghosts Of Central Banks Past And Future

A “Deluge” Of “Craptacular Sh*t”: Barclays Complaint Reveals How They Really Felt

December 23, 2016

Early on Friday, I outlined the deals Deutsche Bank and Credit Suisse were able to strike with

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1 Comment on A “Deluge” Of “Craptacular Sh*t”: Barclays Complaint Reveals How They Really Felt

Goldman: We Were “Mostly”/ “Partially” Correct On 2016 EM Predictions

December 23, 2016December 23, 2016

One of the more popular posts on this site in December carried the headline “Goldman

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“SuperPutin”: 5 Hilarious Quips From Putin’s Annual Press Conference

December 23, 2016December 23, 2016

Vladimir Putin is the middle of his annual marathon press conference which The Telegraph describes

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“Deja-Vu All Over Again”: Why 2017 Looks A Lot Like 2016

December 23, 2016December 23, 2016

“Twas the Friday before Christmas and all through the house, …” Wait. To hell with

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2 Comments on “Deja-Vu All Over Again”: Why 2017 Looks A Lot Like 2016

Daily Kickstart (“Sh*t Loans” Edition)

December 23, 2016December 23, 2016

Deutsche Bank and Credit Suisse are on the move overnight after the banks both settled

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Beware The “Currency Cold War”

December 22, 2016

One of the key themes in 2016 was the extent to which the dollar dictated

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2 Comments on Beware The “Currency Cold War”

“Whoa, Who Said That?” Trump Calls Berlin Attack “Jihad Against Christians”, Promptly Forgets

December 22, 2016December 22, 2016

There’s really not a whole lot I can add here, other than to just give

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5 Comments on “Whoa, Who Said That?” Trump Calls Berlin Attack “Jihad Against Christians”, Promptly Forgets

Paul Krugman Rips Trumponomics, Issues Hilarious Two-Word Warning

December 22, 2016

Ok, I’ll be honest. I spent almost two years of my professional career writing anonymous,

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1 Comment on Paul Krugman Rips Trumponomics, Issues Hilarious Two-Word Warning

The Good Old Days “Are Surely Over” For Hedge Funds

December 22, 2016

“2 and 20” works fine when things are going well. Not so much when things

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1 Comment on The Good Old Days “Are Surely Over” For Hedge Funds

Billionaire Jamie Dimon To Businesses: “Share The Wealth A Little Bit, Ok?!”

December 22, 2016December 22, 2016

One person who benefited handsomely from the rally off the 2009 bottom is JPMorgan Chase’s

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2 Comments on Billionaire Jamie Dimon To Businesses: “Share The Wealth A Little Bit, Ok?!”

Rise Of The Machines Will Lead To “Communist-Style”, “Unconditional” Basic Income

December 22, 2016

I know someone who works at McDonald’s in New York state. This person makes $9.50/hour

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3 Comments on Rise Of The Machines Will Lead To “Communist-Style”, “Unconditional” Basic Income

Daily Kickstart (Watch US Data For Direction)

December 22, 2016

European and Asian bourses are mixed on Thursday amid thin holiday trading following Wall Street’s

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A Graphical History Of Oil Prices

December 21, 2016

“Traders are getting antsy and think this is a global oversupply pushing barrels into the

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oil, OPECLeave a Comment on A Graphical History Of Oil Prices

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Monthly Letter+

  • Resignation

Recent Comments

  • therealheisenberg on Wall Street Thinks Main Street Might Win In 2026
  • Engineer on Weekly: The All-Crushing Claude
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  • Engineer on Weekly: The All-Crushing Claude

Monthly Letters

Resignation

January 30, 2026January 30, 2026

The Noriega Analogue

January 3, 2026January 3, 2026

Bookkeepers

November 30, 2025November 30, 2025

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