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Michael Clark

Michael Clark
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  • The U.S. Economy Appears To Be In Trouble [View article]
    As one might guess, Evans-Pritchard answers that in his article, if you read the whole article, and follow the concern he is building step-by-step. He's addressing an essay or commentary written by HSBC, that suggests the global economy is the titanic, heading for disaster, again with not enough life-jackets. He is trying to analyze is that is true, possible, or what?

    You don't respond to any of these ideas, but you dismiss him as a kook who has no credibility and should not even have an audience because of past error or indiscretions.

    Pretty clear that you are protecting yourself from exposure to ideas you find unfriendly, and from which you need to protect yourself, and perhaps the world.
    May 28, 2015. 12:18 AM | 2 Likes Like |Link to Comment
  • The U.S. Economy Appears To Be In Trouble [View article]
    You debunked him with a one-liner, dismissing the quality of his ideas. He's not on your side. So you torpedoed him, ignoring what he wrote.

    Yes. Understand. You're on the right side. No reason to listen to other ideas or arguments.
    May 28, 2015. 12:09 AM | 2 Likes Like |Link to Comment
  • The U.S. Economy Appears To Be In Trouble [View article]
    Clearly we no longer argue opinions or facts, we simply take a side and start firing. Well, we knew that was coming.
    May 28, 2015. 12:07 AM | 2 Likes Like |Link to Comment
  • The U.S. Economy Appears To Be In Trouble [View article]
    Sure. We have ZIRP, and maybe NIRP coming. INterest rates are low to make debt service easier. But debt loads are higher than ever. What happens when interest rates rise?

    How much government money has the FED spent to keep debts serviceable? Trillions. Where does that money come from? Perhaps the FED is protecting John Q Public and his wife who took on too much debt. More likely protecting the banks that issued the loans; and also protecting corporations so they can buy back more shares on the public's dime.
    May 28, 2015. 12:06 AM | 3 Likes Like |Link to Comment
  • The Dollar And Commodities: Which Is The Leader? [View article]
    Nice report. I'm seeing the same thing you are.
    May 27, 2015. 11:02 AM | Likes Like |Link to Comment
  • The Fed Considers A More Seasoned Approach [View article]
    Moon: Did you read where FED voting member from the Richmond FED, Lacker, says the only thing that will bring discipline back into the markets is letting banks fail...?
    May 27, 2015. 03:27 AM | 3 Likes Like |Link to Comment
  • CBI Gives Investors False Hope [View article]
    Humble Eagle: I think what this BIG short position reflects a pro-Dollar positioning (quite likely), and a net short for anything connected with oil and with in frastructure. I think CBI is, right or wrong, lumped in with the oil stocks that will get crushed if the Dollar's rally continues.
    May 27, 2015. 03:17 AM | Likes Like |Link to Comment
  • The European Central Bank Did More Than Frontload Quantitative Easing [View article]
    Goldman Sachs: THE WORLD IS DROWNING IN DEBT

    http://bit.ly/1BoucVS
    May 27, 2015. 03:04 AM | Likes Like |Link to Comment
  • The U.S. Economy Appears To Be In Trouble [View article]
    For all you cheerleaders of ZIRP and ZIRP-BASED RECOVERIES, here's an Old World perspective that agrees more with Dave Kranzler than with his detractors. Of course, he might be wrong too. But maybe not. C/O Ambrose Evans-Pritchard.

    http://bit.ly/1dwLzif
    May 27, 2015. 02:48 AM | 1 Like Like |Link to Comment
  • The European Central Bank Did More Than Frontload Quantitative Easing [View article]
    "Too much debt" with the key phrase being "too much".

    Money is created by debt AND by savings, in tandem. Sometimes debt/credit dominates, sometimes saving dominates.

    Look at a chart of historic debt levels. In 1950 total debt to GDP in America was about 130%. Now it is 360%. Are you refusing to admit the difference between these levels. How did people live without debt? They got raises; they were paid more for goods and services. Debt serves the banks; increased salaries serves people who work for a living. Both are inflation. Debt is invisible inflation, not measured by CPI; Salary inflation is visible inflation. In 1965 we had no debt, but we were heading into wage inflation. In 2001 we had massive amounts of debt and we were heading into asset inflation, and global depression.

    In fact, the only inflation that the CPI seems to measure is wage inflation.

    What the FED bought was not the good stuff. But the FED then used future tax revenues of Americans to protect their investment by backstopping the markets, refusing to let markets fall, fixing their investment. That's what ZIRP and QE are/were aren't they? Protecting the status-quo from losses? Protecting housing from losses? Protecting the FED from losses on their investments? If we know anything now, after all this experimentation, is that central banks can absolutely FIX markets, at least for a time. Who knows how long this can last.

    The future generation will say no to debt. They will say yes to saving. Their refusal to borrow will drive interest rates up, and this will feed them profits in their saving account. In 1950, when total debt was around 130% of GDP, no one was borrowing (relatively speaking, compared to 1929 or 2001, but we still had money, money that was more valuable than it is today. If the future generation refuses to borrow and buy, then capitalism will have to raise their salaries; because capitalism is dependent upon generating buying. Capitalism, it seems, would rather have workers who are debt slaves and increasing well paid for their work. But ultimately, if the capitalists have no buyers, they will go out of business, after, of course, free money to buy back all the shares they can manage during the feeding frenzy at the end of expansion cycle.
    May 27, 2015. 02:16 AM | 1 Like Like |Link to Comment
  • The U.S. Economy Appears To Be In Trouble [View article]
    Tack:

    Are you really cheering this chart on this page

    http://bit.ly/1BopmYY

    saying it proves the economic recovery has traction. That is a very ugly chart. Can you really argue that this chart is a picture of a housing recovery?
    May 27, 2015. 01:57 AM | 1 Like Like |Link to Comment
  • The U.S. Economy Appears To Be In Trouble [View article]
    Anthony I agree with you. Yes there has been a bounce off the crash bottom in housing starts; but an uptrend? Well. Housing starts are not still going straight down. But with almost negative interest rates, shouldn't there be a bit more energy IF we were really in a recovery. If interest rates go up, housing will go straight down again.

    The media wants to portray this as a housing recovery. And with ZIRP, prices have a bottom put in, for the time being. But the global economy seems to be ready to go down into recession again. Seems like any cheerleading at this point is either political gamesmanship or rose-colored glasses at work.
    May 27, 2015. 01:54 AM | 1 Like Like |Link to Comment
  • The U.S. Economy Appears To Be In Trouble [View article]
    Don't look at the chart on this page

    http://bit.ly/1dwEkqD

    that shows Mortgage Applications at 1996 levels. And this after 7 years of ZIRP.

    What happens to housing if interest rates ever do go up?
    May 27, 2015. 01:45 AM | 1 Like Like |Link to Comment
  • Yellen Puts The 'Dollar' Back On Suicide Watch [View article]
    Thanks for sending this link. Interesting. It's hard to tell from the information they give out what the truth is. Delta sounds good; a nice name. But what is it, really? Wherever money lives, con-men swarm.

    I have a book from a theosophist named Sepharial (pen name), a Jewish aristocrat in England. He is the only other person I have read who writes about a 36-year cycle -- differently constructed than my own -- still, intriguing. He is steeped in Hebrew mysticism, Hebrew astrology -- and he has written a book about investing "The Law of Values".

    Originally astrology and astronomy were linked; and they were linked to psychology. Astrology was originally a philosophy, based on large cycle movements of life described symbolically. What does it mean psychologically when you enter Aries, the House of Mars? It means something specific, about aggression and warfare coming into your perspective of the world. It talks about types of experience and types of energy with which you will associate when in that "house". You are visiting with, or being visited by, Mars energy. It's an early vocabulary which we have sterilized into a new language devoid of symbols.

    Somehow astrology was degraded into a low version of personal fortune-telling -- but that was not its original significance. Astrology became astrolatry. Originally astronomy and astrology were connected: astronomy with a soul, with a symbolism and a story, that related symbolically psychological effects connected to different stages of the life journey.

    Sepharial seems to have mastered esoteric Jewish astrology which was based in an assumed 36-year cycle.
    May 26, 2015. 07:53 PM | Likes Like |Link to Comment
  • Yellen Puts The 'Dollar' Back On Suicide Watch [View article]
    Salmo: You have to keep in mind that my view is that economics and investing are secondary effects of these primary cycles. My view is that these cycles drive nature; human implications are secondary. Plato would call these cycles "God's thoughts."
    May 26, 2015. 06:14 PM | 1 Like Like |Link to Comment
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