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July 20, 2023 | Inflation Just Pausing?

When the stock markets might top

July 16, 2023 | 5.5% Rate on T-Bonds Coming, but Then What?

Jim Grant, the financial word’s adult in the room, says the bear market in Treasury bonds could last for decades. Do the long-term charts bear him out? The one reproduced above suggests that it’s at least possible that we are in the early stages of such a move. Most immediately, the chart projects a further […]

July 9, 2023 | Few Big Winners in the Hard Times Ahead

Will the rich and powerful own everything when the global financial system collapses from too much debt? Supposedly, “they” have been plotting and preparing for this all along — even getting a new money system ready to make the takeover complete. But this theory makes no more sense than the one that puts the same evil geniuses […]

July 2, 2023 | What to Expect After an Endless ‘Fourth’

This promises to be the longest holiday ever celebrated in the U.S., eclipsing even the eight-day festival holidays that frequently pop up on the Jewish calendar. By the time you read this, the Independence Day celebration will be in its unofficial fourth day, having begun in spirit with a pronounced slowdown in the stock market […]

June 25, 2023 | We’ll Look Back Fondly on Inflation

Inflation is being crushed from the system by vastly larger forces of deflation that have been lurking for decades. Although we might have expected the trillions in funny money that were force-fed into the U.S. economy during the covid era to have a longer-lasting effect on prices, inflation never had much of a chance. With […]

June 22, 2023 | Major Cities in a Death Spiral

AI not the big deal it’s made out to be

June 18, 2023 | Frustrated Bear? Temporary Relief Is on the Way

When will the rampaging bull run out of steam? A good question, considering how Wall Street has been flouting a slew of good reasons for the broad averages to be at multiyear lows rather than revving up for a shot at new record highs. Two destructive juggernauts in particular are bearing down on the economy […]

June 11, 2023 | How Wall Street Thrives on Meaningless Data

The Biden Administration can count on Wall Street to celebrate meaningless economic data and bogus GDP growth with steep rallies, even as the visible economy continues to implode. It will become increasingly difficult to ignore signs of impending collapse, however, as anyone who lives in San Francisco could tell you. The city’s growing wretchedness is […]

June 8, 2023 | US Economic Stats Don’t Match Actual Economy

AI has to cure a lot of its stumbling blocks

June 4, 2023 | $AAPL – Apple Computer (Last:180.95)

  The post-covid bull market begun in the final quarter of 2020 is running out of room, at least on the daily chart. The 184,86 target shown, a Hidden Pivot resistance, is not the highest that can be projected, but it still looks capable of restraining the charge, if only for a short while.  Sliding ‘A’ down […]

May 28, 2023 | And Now Microsoft Leads the Stampede!

Microsoft’s bullish rampage last week added to already strong evidence that the stock market is headed to new records highs.  The shares of the software leviathan’s shares not only jackhammered through granite resistance in the form of the midpoint ‘Hidden Pivot’ shown in the chart, they ended the week decisively above it. This technical telltale […]

May 21, 2023 | Did the Bear Rally Top on Friday?

Maybe. Yeah, right. A headline here just two weeks ago implied that stocks were about to go bananas: Why a Permabear Is Certain We’re Going Much Higher.  Hubris aside, this was based on the very bullish chart of just one stock, Chipotle (CMG). It had just crossed the $2,000 threshold and appeared — still appears — […]

May 14, 2023 | Bond Bulls Seemed Just as Crazy in 1981

[Editor’s note: The following commentary draws parallels between today’s bond market environment and the last great bear market in bonds, which bottomed in 1981. It went out last month to clients of my friend Doug Behnfield, a financial advisor and senior vice president at Morgan Stanley Wealth Management in Boulder. Long-time followers of Rick’s Picks will be familiar with […]

May 11, 2023 | Stock Markets vs. Economic Data

Government manipulated stats vs. reality

May 7, 2023 | Why a Permabear Is Certain We’re Going Much Higher (II)

[I’m giving the commentary below a second week on the front page because the thesis is so outrageous even I can scarcely believe it. Stocks screamed higher to end the week, as if everything were right with the world.  What lunacy!  Investors have truly gone out of their minds. Reportedly, there are 186 U.S. banks on […]

April 30, 2023 | Why a Permabear Is Certain We’re Going Much Higher

Like many of my subscribers, I have been waiting for the stock market to crash so that sanity might have a chance to recover its footing in the investment world. Permabears can always come up with good reasons to explain why a crash is imminent.  Some use technical tools for this. Others cite public and […]

April 27, 2023 | The Real Reason Fox Fired Tucker Carlson

The spicy breakout that’s catching Wall Street’s attention

April 23, 2023 | It’s All Good, Sort of…

Readers will be pleased to hear that Alissa Heinerscheid, the Anheuser-Busch marketing whiz responsible for featuring Dylan Mulvaney’s unwholesome mug on cans of Bud Light, appears to have lost her job. A-B reportedly put Heinerscheid on a leave of absence, replacing her with a senior executive.  Since the megabrewer is unlikely to promote Alissa, and […]

April 16, 2023 | Spuds MacKenzie Is Rolling in His Grave

5 pm The toppy look of Anheuser-Busch’s stock chart (above) implies that the company is at least somewhat likely to lose sales because of its attempt to shove the wretchedly unlovely Dylan Mulvaney down our throats.  Bud Light is undrinkable pisswater to begin with, so perhaps we should not be cheering on the frat boys […]

April 9, 2023 | Lawyers Have Much to Fear from AI Bots

Anyone who has played around with ChatGPT knows that it is just dumb enough to succeed wildly. It harbors no opinions, grudges or wit, and it can talk a blue streak without saying anything interesting or exceptionable. Artificial intelligence seems particularly well suited to mimicking the rote tasks that lawyers charge clients hundreds or even […]

April 2, 2023 | To Hell in a Handbasket

Well, they finally indicted the proverbial ham sandwich last week, adding to our long list of worries that the world really is falling apart. It’s as good a time as any to trot out William Butler Yeats’ The Second Coming as a reminder of where things are headed. This is arguably the most powerful poem in the English language, […]

March 19, 2023 | To Pivot, or Not to Pivot, That Is the Question

To pivot, or not to pivot? That is the question Fed Chairman Powell will have pondered over the weekend while tending chicken breasts, franks and burgers spaced meticulously on the grating of a 148,000 BTU grill. If conscience doth indeed make cowards of us all, we might expect him to act boldly. But how? Does […]

March 16, 2023 | There Is No “Real” Money to Back Up Failed Banks

Market obsession with the Fed disconcerting

March 5, 2023 | Creating ‘Wealth’ Is 99% Inspiration and 1% Perspiration

Americans grew effortlessly richer last week when a two-day rally in stocks and bonds added many hundreds of billions of instantly spendable dollars to the economy. Most of it would have dropped into the hands of traders, speculators and portfolio managers. However, enough will trickle down to sales reps at Bijan, Dolce & Gabbana and […]

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