Clik here to view.
Notes From Underground: He Goes Running For the Shelter of His Mother’s...
(Larry Summers had to run to his medicine cabinet to take Prozac (not Diazepam as in the Rolling Stones song) after he read the G-20 communique. The finance ministers and central bank heads meeting in...
View ArticleClik here to view.
Notes From Underground: Low Probability, High Impact Events
When Alan Greenspan was Fed Chairman he would regularly orate on the concept of low probability events that could create disruption in the global financial system. These events are not BLACK SWANS...
View ArticleClik here to view.
Notes From Underground: Gee, What’s the G-20 Thinking About?
The Japanese leave Washington with no support for alleviating one-sided currency moves. For China it is all about respect for growth, wherever it may be. The Chinese GDP was released on Thursday and it...
View ArticleClik here to view.
Notes From Underground: If I was A Rich Man, They Think You Really Know
The world has left the economic realm and is now heading into the political, which the Fed’s models cannot weigh because politics are too far complex and cannot be explained by six variables of a...
View ArticleClik here to view.
Notes From Underground: People Get Ready, There’s a Train (Chambers Brothers...
“There ain’t no room for the hopeless sinners, who’s hurt all mankind just to save his own, have pity on those whose chances grow thinner ’cause there’s no hiding place from the kingdom’s throne.” The...
View ArticleClik here to view.
Notes From Underground: You Are So Jejune (Love and Death, Woody Allen)
Let’s clear about the mess of Brexit. First, the media is awash with so many opinions from those who had no idea that a vote for Brexit was in the realm of possible outcomes. Yet there is no lack of...
View ArticleClik here to view.
Notes From Underground: Three Cheers For the Fed (They Kept Out of the Fray)
It has become standard operating procedure for the FED to enter the market in an effort to minimize the impact of any low probability event with market disrupting outcomes.The BREXIT vote surprised the...
View ArticleClik here to view.
Notes From Underground: Japanese Elections, Italian Banks and May Day in the...
Just some summary points as this year the summer doldrums will prove to be anything but: 1. The Japanese elections for the upper-house unfolded true to expectations but the impact of the win for P.M....
View ArticleClik here to view.
Notes From Underground: Clearing Up Some Odds and Ends
This week brings Prime Minister Abe’s fiscal plan, the Reserve Bank of Australia’s rate decision, the Bank of England’s monetary results and U.S. nonfarm payrolls on Friday. So let’s put some...
View ArticleNotes From Underground: Wednesday, 6:45 CST … Our Day Begins
There are so many issues plaguing Europe right now, and surprisingly, Brexit is not the most significant. On Wednesday morning — yes, Wednesday — the ECB announces its rate decision and it is expected...
View Article
