On Jan. 30, I had the pleasure of sitting in with Bill Laggner and Richard Bonugli for another Financial Repression Authority podcast. These discussions provide a forum to discuss pertinent issues regarding the efforts of policy makers that impact the creation of wealth, as well as its distribution. I refer to this as POLITICAL ECONOMY. The podcast was recorded four hours before the release of the FOMC statement and Chairman Jerome Powell’s press conference. The FED chairman provided further insight into the walk-back of “automatic pilot” as he addressed concerns about the headwinds building in the global economy.
Posts Tagged ‘Financial Repression Authority’
Notes From Underground: Chatting With Bill Laggner of Bearing Asset Management
February 4, 2019Tags:balance sheet, Federal Reserve, Financial Repression Authority, FOMC, Jerome Powell, rocket science
Posted in Fed | 7 Comments »
Notes From Underground: Europe Takes Center Stage (Again)
January 15, 2018It is always a pleasure to talk with the Richard Bonugli at the Financial Repression Authority. Like Anthony Cruedele of Futures Radio, Richard is a very astute financial mind, which allows for deep discussions in a longer format. We cover several issues discussed in Notes From Underground so I’m sorry if it seems redundant, but I will say that we take a deeper dive on the issues. The segment taped on Wednesday, January 10 so from a trading perspective the information may be stale. But from an investors’ perspective it will still be relevant as the markets begin to unravel the mysteries of a new year. We dive deeper into Europe as I am certain the continent will provide much of the tinder for market volatility in 2018. This weekend proved the case as several stories from Europe propelled the DOLLAR lower as U.S. markets were on holiday for Martin Luther King Jr.’s birthday.
Tags:Angela Merkel, Bundesbank, CDU, CSU, ECB, Euro, Financial Repression Authority, German, Mario Draghi, SPD, U.S. Dollar
Posted in Currency, ECB, Europe | 13 Comments »
Notes From Underground: The Unemployment Report Revealed Little
April 9, 2017The headline nonfarm payroll number was much weaker than expected and confused traders because it was so wide of the April 5 ADP release of 263,000, but the rest of the data was tepid though not weak enough to dissuade the FOMC from further efforts to raise rates. The important average hourly earnings was up 0.2%, in line with expectations, but the weekly hours worked slipped 0.1, which may have been in response to the early March storms. The unemployment rate dropped to a recovery low of 4.5% but that may be because of the amount of workers having left the labor force. The markets’ initial reaction to the headline NFP was the bonds rallied, the dollar weakened and the precious metals rose. By day’s end all the moves reversed from early rallies inspired by the U.S. missiles fired at Syria. The market had deemed the cruise missiles fired at the air force base in Syria as a market destabilizing event, spurring a purchase of what are deemed safe haven assets: GOLD, YEN, BONDS. But the end of day reversal nullified Syria as a one-off event. So the market is confused as to the genuine impact of the unemployment report and we will have to wait for more economic data to weigh all the “communication” coming from FED speakers. Chair Yellen will be speaking with a Q&A session on Monday afternoon so late market action should not be discounted.
Tags:China, Financial Repression Authority, nonfarm payrolls, trade, Trump/Xi
Posted in China, Commodities, data, United States | 2 Comments »
Notes From Underground: Financial Repression Authority Podcast With Peter Boockvar
January 8, 2017Yes, the talk of the weekend has been the 0.4% increase in the average hourly earnings embedded in the jobs data. The Fed had three members speak after the data release and all noted that the wage gains may mean that we are at full employment. Jeffrey Lacker was the most concerned about the FED being behind the proverbial curve. My analysis will be later in the week but first I wanted to share the FRA podcast as it includes the wisdom of Peter Boockvar of the Lindsey Group. Enjoy and I look forward to your comments as they will be answered and hopefully provide substance for an upcoming post.
Tags:Fed, Financial Repression Authority, nonfarm payrolls
Posted in Podcast | 4 Comments »
Notes From Underground: A Round Table Podcast From the Financial Repression Authority
October 25, 2016I have been doing more media coverage of political economic discussions and I am proud and honored to be a part of Gordon T. Long’s laborious work for the Financial Repression Authority. Much of what is discussed on the podcast has been a constant theme in Notes From Underground and my ubiquitous discussions with Rick Santelli. I would like feedback from readers about setting up such a format in which an interactive video effort would allow the give and take of real-time Q&A. It is a fairly long (43 minutes) so turn down Joe Buck on Fox ‘s World Series coverage and listen to the discussion. Take notes and put forth questions as to further the discussion that makes NOTES worth writing. As a long-time Cubs fan I am enjoying the recent high-level play of the young stars but am saddened for all the Cub fans who have not been able to experience the joy of seeing the CUBS in the world series. Oh well, as the world turns on a dynamic model.
Tags:ECB, Financial Repression Authority, Mario Draghi, QE
Posted in Banks, ECB | 11 Comments »