President Trump just proposed his latest $4.8 Trillion budget, and not surprisingly, suggests the deficit will actually decrease over the next 10-years. But this lack of a "story," is what has led us to the very doorstep of "Modern Monetary Theory," or "MMT."
There is an old axiom which states that if you repeat a falsehood long enough, it will eventually be accepted as fact.Low oil prices equating to stronger economic growth is one of those falsehoods.
The #RealInvestmentReport is our weekly newsletter which covers our thoughts on the current market environment, the risk to capital relative to the market, and how we are positioned currently. It includes our MacroView, analysis on markets and sectors, financial planning, and our 401k plan manager.
Professor Minsky taught that markets have short memories, and that they repeatedly delude themselves into believing that this time will be different. Sadly, given the current level of market exuberance Minsky is likely to be proved correct.
Dallas Fed President Robert Kaplan is neutral right now on monetary policy, saying neither a rate cut nor a rate hike are necessary in the medium term. The markets disagree.
In the President's "State of the Union Address" on Tuesday, he used the podium to talk up the achievements in the economy and the markets. However, it is the claim of record high stock prices which undermines the rest of the story. Let me explain.
The #RealInvestmentReport is our weekly newsletter which covers our thoughts on the current market environment, the risk to capital relative to the market, and how we are positioned currently. It includes our MacroView, analysis on markets and sectors, financial planning, and our 401k plan manager.
The #RealInvestmentReport is our weekly newsletter which covers our thoughts on the current market environment, the risk to capital relative to the market, and how we are positioned currently. It includes our MacroView, analysis on markets and sectors, financial planning, and our 401k plan manager.
It is easy to suggest the economy is booming when your net worth is in the hundreds of millions, if not billions, of dollars, or when your business, and your net worth, directly benefit from surging asset prices.