On Tuesday, I sat down with the Financial Repression Authority’s Richard Bonugli and Marc Faber. The last time Dr. Faber and I spoke, there were several profitable investments that evolved from our deep discussion about the global political economy. Give it a listen as we discuss the global central banks and potential profitable areas of investment. Marc has fabulous insights on the global economy and NOTHING is out of bounds. This is a man who finds great opportunities during times of chaos.
Posts Tagged ‘James Bullard’
Notes From Underground: This Isn’t the Barron’s Roundtable
February 10, 2022Notes From Underground: Time It Was, What a Time It Was
August 27, 2019These Simon and Garfunkel lyrics could apply to the events of this past weekend, the bookends of Jackson Hole and the G-7 meeting. The meaning was best summed up i a Financial Times story that quoted St. Louis Fed President James Bullard, who said, “Something is going on ,and that’s causing I think a total rethink of central banking and all our cherished notions about what we think we’re doing. We just have to stop thinking that next year things are going to be normal.”
Notes From Underground: We are IN the Marcusian ONE DIMENSIONAL World
June 20, 2016It takes a BOURGEOIS APOLOGIST to point out the limitations of our thought processes. The current financial world is seen through the prism of BREXIT. Every nuance from the pollsters result in magnified market reactions. Last week’s political assassination of a sitting member of Parliament brought the political establishment to halt campaigning and caused a national contemplation as to where England was headed. The look into the British psyche, according to the “new” polls, has brought the voters to find favor in the status quo–exactly what Geoffrey Gundlach had predicted several weeks ago (SEE NOTES POST, IF I WAS A RICH MAN). Yra’s first law: Money is fascist and always seeks the highest return in a hoped for stable regime. Political assassination leans the ship of state toward the LEEWARD side, but there are three days left and many new polls to provide volatility to the markets. But I caution there are other events in the world that are of more than of a passing interest.
Notes From Underground: Will Janet Be Wearing Her High School Nehru? Or Her PHD Graduation Nairu?
April 26, 2016Wednesday brings the results of the FOMC meeting and the official policy statement laying out Fed insights into the domestic and of recent concern the fragile state of the global economy. There will be no press conference so the “kremlinologists” of fedspeak will be busy parsing every nuanced word. I WILL BE WATCHING WHAT OUTFIT THE FED CHAIR IS WEARING. IF SHE IS WEARING A NEHRU JACKET I WILL ASSUME THE FED IS MORE CONCERNED ABOUT THE EFFECT OF GLOBAL MARKETS KEEPING DOWNWARD PRESSURE ON AMERICAN WAGES. Domestic-oriented analysts focus on the U.S. unemployment rate of 5.0% as the key factor for the need for the FED to raise rates. The flawed models of the FED fail to take into account the pressures on the U.S. economy from capital and labor situations worldwide.
Notes From Underground: Cramer Unsavory? I Think Not
January 14, 2016Jim Bullard? Now There Is An Unsavory Chap
Today was not like the other days for the break in the equity markets came early. As all the global markets were in sell mode St. Louis Fed President James Bullard hit the airwaves with thoughts about being wrong in his inflation projections. It appears that the selloff in crude oil is providing the Fed hawk with concerns that the SUMMARY of ECONOMIC PROJECTIONS may be softer than the December FOMC meeting revealed. Bullard sounded as if he would not be in favor of the Fed raising rates because of the inflation rate turning away from the spurious 2 percent mandate. The unsavoriness of Bullard’s comment is not that he fears a downturn in inflation, and maybe lower growth, but that Bullard seemed to find his DOVISH posture as the U.S. markets were heading toward the August lows. Bullard in unsavory because he called out CNBC’s Jim Cramer for “cheerleading for low rates twenty-four hours a day.”
Notes From Underground: Yellen Announces Possible Decrease In Liquidity; Suffers Bout of Dehydration
September 27, 2015In Chair Yellen’s speech on Thursday–“Inflation Dynamics and Monetary Policy”–she walked backed comments from last week’s UBER-dovish press conference. My first impression, given the wonkish nature of the speech, was that she plagiarized Stanley Fischer’s speech at Jackson Hole, or merely bought it at an online economic website. Second, the Yellen speech did hint at a possible answer to the aggressiveness of Jim Bullard’s desire for the Fed to raise rates as soon as possible. After rereading the speech, it seems that Yellen was NOW willing to raise rates and be part of the FOMC members pushing for a rate rise before the end of 2015. Why?
Notes From Underground: Where Have You Gone Paul Volcker? Our Nation Turns Its Lonely Eyes To You
September 21, 2015Today, in an act of major disfunctionality, St.Louis Fed President James Bullard called out CNBC‘s Jim Cramer about his continual call to keep rates at zero. Mr. Bullard called Cramer’s continued push for the FED to remain as easy as possible “unsavory.” The fact that Jim Bullard went into Cramer’s den to state his case is unsavory. If the Fed is so concerned about the pressure emanating from the CNBC airwaves, why would you lend them more credibility by appearing on Squawk Box? Fed Presidents and Governors are always making themselves available to the electronic media in an effort to “enlighten” the public. Can the FED really be concerned about the daily discussions about policy and the pressure it might provide to keep equity markets elevated? Please bring back Volcker and restore some dignity to the world’s central bank.
Notes From Underground: Why the Fed’s Credibility Is Suffering
August 23, 2015As Harry Nilsson sang in “Everybody ‘s Talkin'”: Everybody ‘s talking at me, I don’t hear a word they’re saying, only the echoes of my mind.” This is true of the words from St. Louis Fed President James Bullard as he had the audacity to opine in the middle of Friday’s S&P and equity rout that: 1. “The Fed doesn’t react directly to equity markets”; and 2. “More sanguine than market on global outlook, China.” (source: Bloomberg). This is the very same James Bullard who is credited with halting the significant break in the SPOOS on October 15 when he mentioned that “the Fed should be open to continue its QE on the back of low inflation expectations.”
Notes From Underground: The Fed, Simon Potter and the Sorcerer’s Apprentice
April 15, 2015Another day of market volatility caused by __________ (fill in the blank). It seems that many pundits and talking heads have a cacophony of excuses for the recent bout of market moves that seem to be random and non-correlative. Poor economic news begets DOLLAR SELLING, SPOOS RALLYING AND BONDS GOING EVERY WHICH WAY. Throw in the recent erratic behavior in OIL and PRECIOUS METALS and all previous relationships are, for the moment, non-existent. The FED has been warning that BOND markets are subject to severe volatility because markets fail to respect the FOMC‘s views on economic growth and the need to raise rates sooner than investors appear to want to believe.
Notes From Underground: Is Jim Bullard The Fed PIMP? Domique Strauss-Kahn Wants To Know
February 3, 2015Today, the trial of former IMF Director Dominique Strauss-Kahn [DSK] began in Paris. The former IMF director is charged with “aggravated pimping in an organized group.” Well, if DSK is on trial for aggravated pimping, it seems that St.Louis Fed President James Bullard OUGHT to be indicted on a similar charge.