We are all helicopter pilots now

In Free by Cam Hui

In Ben Bernanke’s famous 2002┬áhelicopter speech, he made the point that the Fed has numerous tools to fight deflation, even if interest rates was at the zero bound: The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By …

The bulls are winning, but they shouldn’t relax

In Free by Cam Hui

Mid-week market update: On the weekend, I wrote that the stock market was experiencing a bullish breadth thrust and the market is likely to see a series of “good”overbought readings where stock prices either continue to grind up or consolidate sideways as they get overbought (see RIP Correction. Reflationary resurrection next?). So far, so good. The market seems to be …

Mario Draghi reveals the Grand Plan

In Free by Cam Hui

Policy in Europe has generally been done in the back rooms, with the theatre, e.g. PIIGS debt re-negotiations, done in the front rooms. Last year, the markets were panicked because they perceived the backroom elites had lost control of the situation and events were spiraling out of control. Today, it appears that the elites have calmed things down and there ...
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