Category Archives: Uncategorized

If you’re wondering why we’ve been pounding the table, warning of the evils of inflation over the past 24 months, I received a text from an old college baseball buddy this weekend, which encapsulates the fiery coals and burning sulfur … Continue reading →

1. Crack Spreads At Record High The traditional relationship between crude and refined products is broken. WTI is anchored around $100-$110 a barrel, suggesting that — in barrel terms — gasoline, diesel and jet-fuel prices shouldn’t be much higher, once … Continue reading →

They shall beat their swords into plowshares, spears into pruning hooks, [and shipping containers into homes] – Book of Isaiah (paraphrased). According to shipping analytics firm Windward, 20% of the world’s roughly 9,000 active container ships are currently sitting in traffic … Continue reading →

True Confessions:  We don’t know, and neither does anyone else, including Chairman Powell and the FOMC.  What Is the Neutral Rate? The neutral rate is the theoretical federal funds rate at which the stance of Federal Reserve monetary policy is … Continue reading →

Since CK loved charts, we will honor her with a weekly (consistent as we can) chart series with addition of a few of our comments. 1. Crypto Crash  Rising speculative asset values that are not backed by production are inflationary … Continue reading →

What a sad commentary on our society at large, which, we infer is partially the result of the messy world the younger generations have inherited from the Boomers. GMM has been writing about the Clash of Generations for years. Generation … Continue reading →

The next big number on the downside for the S&P is 3838.79, which brings the first Fib retracement level of the secular bull market that began in March 2009 into play. It will get some attention. Watch that space.