Category: Aggregated

Going into Thursday, everyone – and we do mean everyone – is scrambling to predict which asset classes are most susceptible to a Fed hike. As we explained over the weekend, there’s quite a bit of ambiguity this time around and not just because a third of Wall Street has never seen a rate hike in their professional careers. The prolongation of ultra accommodative monetary policies across the globe (to the point that what was once “unconventional” might now fairly be classified as thoroughly “conventional”) and the failure of the Fed to normalize while it had the chance, has served … Continue reading →

Most economic statistics don’t lie, but they mislead. The statistics produced by the Bureau of Labor Statistics are pretty good, according to prevailing economic theory and statistical theory, but they are misleading to a fault. This is not because the government rigs the statistics. It is because objective statistics cannot deal effectively with subjective value. But subjective valuation is the essence of economic theory. This was discovered in the early 1870’s. The statisticians still have not come to grips with this development. They try hard, but the labor theory of value is wrong. They fail. Let me prove this to … Continue reading →

The sun has set, your eyes are heavy and all signs point towards you falling asleep. You get into bed for what you hope will be a restful evening so you can be energized in the morning, but instead you’re left tossing and turning all night. Not only do you wake up the next day groggy, but this vicious cycle continues night after night. Lack of sleep impairs your energy levels, but it can also have serious health consequences; therefore, it’s important that you get to the bottom of your sleep predicament. There are many reasons why people have trouble … Continue reading →