Author Archives: Sean Corrigan

Banking, Central banks, China, Commodities, coronavirus, COVID19, ECB, Equities, Europe, Federal Reserve, Forex, Gold, Government, Inflation, Japan, Macro, Metals, money supply, Revenues, Tech, UK, USA

The Fall Approaches

Posted on by Sean Corrigan

OPEN ACCESS FOR A LIMITED TIME ONLY.
It’s not just the leaves that often turn when the year begins, with gathering pace, to slip towards its chilly end. Markets often do, too.

Given this backdrop, the sell-off in the Nasdaq – in the marvelled-at ‘Growth’ stocks, in the FAANGs, and in Tesla – comes at a moment which is particularly intriguing for reasons which go far beyond whatever coup SoftBank may or may not have attempted and whether those irritating Lockdown Livermores have finally gotten their comeuppance.

Continue reading →
Austrian Theory, Central banks, Economics, Federal Reserve, Fiscal policy, Inflation, Keynesianism, Liberty, Macro, MMT, Money, money supply

MMT Vessels Make The Most Noise

Posted on by Sean Corrigan

As a sort of Keynes-manqué, Stephanie Kelton’s moment in the limelight is being granted her for much the same reason as was that of her more illustrious predecessor: she is telling free-spending politicians what they always want to hear – viz., that their habitual incontinence is statesmanship of the highest order.
With our good professor never missing an opportunity to remind anyone and everyone that her book – a veritable almanac of economic hocus-pocus – tops the non-fiction charts (surely a gross miscategorization if ever there was), we must therefore re-emphasize our view that the REAL peril of Magic Money Tree economics – aka MMT – is what it means for the private sphere in general and the scope for genuine entrepreneurship in particular, NOT whether it causes prices to rise or not. The question is one of liberty, not inflation; real prosperity, not growth.

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Continue reading →
Central banks, China, Commodities, Equities, Fixed Income, Forex, Leverage, Margin, Money

Chasing the Dragon

Posted on by Sean Corrigan

As is by now widely reported, China stocks have been on something of a tear in the past few weeks, with the CSI300, for example, up by around 20% in that time. The usual suspects have been at work as the PBOC has encouraged a renewed money flood into being and those desperate for an income – and possibly with little else to do, at present – are enticed back into what is merely the latest in the nation’s rolling series of mania and speculative booms.

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Continue reading →
Credit, Energy, Equities, Fixed Income, Gold, Inflation, Metals, Uncategorized, USA, Yield Curve

Hoping for Growth. Searching for Value.

Posted on by Sean Corrigan

Thanks very much to my old friend, Steve Sedgwick at Squawk Box Europe for the chat this morning. We looked at Growth v Value, the US v ROW, we touched on bonds and borrowing, money supply, inflation, lockdown, commodities & gold – all in under 10 minutes!

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Continue reading →
Austrian Theory, Central banks, Corporatism, Credit, Economics, Entrepreneur, Federal Reserve, Fiscal policy, Inflation, Intervention, Liberty, Macro, MMT, money supply, Planning, Production, Saving, savings glut, Technocracy

Saturn Devours His Children

Posted on by Sean Corrigan

A recent Wall St Journal article gave vent to a scare-story full of Underconsumptionist claptrap, carried under the catchy headline: “The Coronavirus Savings Glut”. Ironically, and only a day later, the paper ran a second piece entitled “How Coronavirus Upended a Trillion-Dollar Corporate Borrowing Binge and Kicked Off a Wave of Bankruptcies

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Continue reading →
Bank of England, Central banks, COVID19, CPI, ECB, Economics, Federal Reserve, Fiscal policy, Government, Inflation, Japan, MMT, Money, Productivity, UK Treasury, US Treasury, Wages

After the Fall of Caffa

Posted on by Sean Corrigan

While politicians anxiously check the shifting weather-vanes of public opinion and scientists squabble over facts as well as interpretations, central banks are resolutely doing what they do best – wildly exceeding their briefs and trying to drown all problems in a flood of newly-created money. As ever, the underconsumptionists worry that a lack of demand will usher in deflation, in spite of all such efforts. Some of us, however, worry more about what it will do to supply. Here, we explain why.

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Continue reading →
Austrian Theory, Economics, Fixed Income, Inflation, MMT, Money, money supply, US Treasury, USA

Free Lunch Finance

Posted on by Sean Corrigan

The poster girl of the voguish crankdom that is Modern Monetary Theory (“MMT”) – Stephanie Kelton, has been out pimping her new book – “The Deficit Myth” – with a great deal of help from the unofficial PR department which she seems to have, nestled within the House Organ of Davos, the execrable FT.

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Continue reading →
Capitalism, Ecowarriors, Entrepreneur, Free Markets, Greens, Renewables, Trade

Green Illusions

Posted on by Sean Corrigan

A recent, long post on Linked-In relates the story of how an attempt to set up a business recycling aluminium cans in the city of Toulouse in France failed for reasons of cost, lack of customer appetite, and ultimately out of the sheer technical impossibility of achieving the desired 100% ‘Green Loop’ for which the enterprise – La Boucle Verte’- was named.

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Continue reading →
Constitutionality, coronavirus, COVID19, Government, Law, Liberty, Obiter Dicta, Technocracy

COVID19: Herded with Impunity

Posted on by Sean Corrigan

For those of us in the field of finance, the last several weeks have been interesting – not to say hair-raising – ones with regard to the financial and economic aspects of the coronavirus epidemic and a fortiori with the official, hyper-Lehman response to it.

Leaving aside the medical issues, there is much of potentially far-reaching importance here to discuss.

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Continue reading →
Austrian Theory, Central banks, coronavirus, COVID19, Demographics, Economics, Macro, Money

Not your Grandfather’s Crisis

Posted on by Sean Corrigan

Many people are trying to draw analogies with the Great Depression, with wartime, or the 70s stagflation era but we feel most of these analogies are missing the mark. Here we explain why

To access this post, you must purchase Annual Subscription or Monthly Subscription.

Continue reading →