Monthly Archives: December 2013

We have no way of knowing for sure how this chapter in monetary history will end. All we know for sure is that today’s market valuations, leverage and fundamental supports are the least attractive we have seen since 2007, 2000, … Continue reading →

In a financial world that banks on the magic of central bankers and only ever sees upside, growth disappointments are always “unexpected”… Japan’s growth slowed more than an initial estimate in the third quarter while the country posted an unexpected … Continue reading →

Many commentators are praising “gains” in US household wealth over the past 3 years of central bank support. But as we look at this chart of US household net worth as a percentage of after-tax income, over the past 15 … Continue reading →