Welcome to The Credit Strategist!

Update: We have published Welcome to Fantasy Island - July 2019!

Welcome to Fantasy Island

We no longer have real markets. We are living on Fantasy Island with Donald Trump playing Mr. Roarke and Jerome Powell auditioning for the role of Tattoo.

The fact that policymakers are planning to cut interest rates with  unemployment, inflation and GDP growth at current levels illustrates the bankruptcy of current economic thought. Instead of learning from the series of disasters that incessant market interventions caused in recent decades, central bankers are following exactly the same path and pushing markets straight toward another crisis. The intellectual poverty that rules today’s Federal Reserve is very disturbing. But even worse is the hubris that leads academics to believe they can micromanage an unspeakably complex $20+ trillion economy.

Latest Newsletters:

Idiot Wind - June 2019

Asylum Seekers - June 2019

Welcome to Jonestown - May - 2019

Judge Nathan Whiffs - April - 2019

In The Arena - April - 2019

Keep Digging, Elon! - March 2019

Christchurch - March 2019

Links:

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