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Wildly asymmetric and unsustainable.
BREAKING: The wealthiest 1% of US earners now own 50.1% of US equity and mutual fund holdings.
To put this into perspective, their ownership stood at 40.1% in 1990 and 39.6% in 2001.
At the same time, the next 9% wealthiest households own 37.3%, and the middle 40% own just
Author Archives: Danielle Park
April Fools?
As we explained in our month-end client letter yesterday, net speculative longs in commodities closed March at an all-time high. That’s a whole lot of highly levered speculators betting that commodity prices will keep rising. Maybe, but never indefinitely. The … Continue reading
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Greenback rebound stalks the risk trade (again)
After peaking a year ago at just over $102, the US dollar against a basket of global currencies sank to $89.20 in early January as the consensus predicted further dollar weakness and commodity strength. Something else happened. The dollar index … Continue reading
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Four Reasons Wall Street is Wrong on Inflation
Longer-term government bonds are selling off, and their yields are rising, as commodity speculation and inflation expectations have leapt over the past seven months. Central banks are throwing everything they have to maintain asset inflation because they cannot inflate wages, … Continue reading
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