Map: Every Year of the Crusades
By 1204, virtually all territory captured by the Crusaders had been lost and they turned to sacking and pillaging Constantinople
Unlike During Global Financial Crisis, Neither CPI nor PCE Inflation Have Turned Negative
The reality is that the Fed needs inflation to be low
Ratio of Nasdaq to S&P 500 Eclipses Peak of Dot-Com Bubble for First Time
Sustaining current growth in the Nasdaq (up roughly 42% year-to-date) implies it’s market cap overtaking total global GDP by roughly 2024
Long Time Bull Ed Yardeni Warning of “Excessive Bullishness”
“Everybody’s bullish”
Map: Barbarian Invasions and the Fall of the Western Roman Empire
The various ‘barbarian’ invasions of the late Roman Empire: the Franks, Huns, Visigoths, Vandals, and others
Kyle Bass Bullish on Commodities, Oil, LNG, Singapore
The outflow of human and financial capital from Hong Kong will benefit Singapore and the UK
Leland Miller: China Is Revising 2019 Down to Make 2020 Growth Look Stronger
“The numbers being used are not what people think they are.”
Thebes, Egypt – 1821
A French cartographer, engineer, and archaeologist who traveled to Egypt as part of Napoleon Bonaparte’s commission to Egypt
Why Inflation Targeting Is a Bad Idea and So Many Feel That Inflation Is Higher Than CPI
An idea whose time has past
What Happens When This Chart Hits Zero?
Foreign purchases of financial assets are the primary mechanism that recycles back into the US the US Dollars accumulating overseas as a result of our ever widening trade deficits